UK Property Market

High demand for coastal housing

A recent study by PropertyFinder.Com finds that British homebuyers are losing interest in buying holiday houses overseas and become more willing to own a second property in the UK. While the study shows that 1 in 2 Britons would like to have a holiday house, only 500,000 families actually own one. Most second properties are located in the south-west (25 per cent) and the south-east (23 per cent).

At the same time, many of the coastal towns are turning into micro markets, being governed by other demand factors than the general market. Since many of them are property hotspots, a boom in house prices is expected this summer in coastal towns such as Rock in Cornwall. Those who are looking into buying a second home could make a good investment by choosing a less pricey property, located only a few miles away from the coast.

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