Britain to see second homes boom says research

Aug. 25, 2005
Research has claimed that the predicted warmer climate in Britain will boost the country’s second homes market. A study by the Centre for Future Studies commissioned by Direct Line insurance reveals that by 2015 more than 400,000 people will own a second home in Britain, a rise of 24% over the current level. Instead of travelling abroad Britons will enjoy better weather and a healthier return on their investments by buying holiday properties at home. The report says new demand will create hotspots in previously unfashionable areas such as regenerated Victorian industrial cities like Bradford. University cities could also benefit as parents buy homes for their children alongside the traditional second home areas in the National Parks, along heritage coasts and in the centres of large commuter cities. Seirian Hanner who carried out the research said: “We are becoming better off and people throughout the UK are beginning to realise that they need more than one home to reflect their lifestyle and meet their needs. They will also realise that they can afford it.”

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