2 Mar

Value of second properties 'holds up well in some areas'

Value of second properties 'holds up well in some areas'

People who have gone through the conveyancing process to secure a second property may see the value of it hold up well.

This is according to Lucian Cook, director of residential research at Savills, who noted that residences located in prime spots are still considered desirable.

He commented: "What you do tend to find is that the very best locations and the very best settings tend to hold their value much more than something which is secondary."

Examples of good spots for second property ownership are those with "good, uninterrupted sea views", he noted.

Such homes tend to be considered more valuable than those that are a mile back from the coast, the expert claimed.

His comments were made following the release of a Knight Frank report, which revealed that the number of second homes in England increased by 2.6 per cent last year to reach a record high of 245,384.

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.