25 Oct

1.5 million Brits have a second home

1.5 million Brits have a second home

Almost 1.5 million people in the UK have a second address over and above the property that they are normally resident in, a new report has stated.

According to the Office for National Statistics, it is now the case that 2.8 per cent of the resident population of England and Wales is made up of those who have more than one home.

Some 77 per cent of these residents said that their extra home is used for purposes other than as a holiday home, for work, or buy-to-let.

With rental prices now hitting an all time high, with monthly charges at £741 though, more people may opt to convert their extra home into a rented house in the months and years to come.

At the moment, the majority of second homes are used for students, while another large portion of the market have properties that their children use as a result of a marriage separation.ADNFCR-1222-ID-801476314-ADNFCR

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