26 August 2010

The Number of people owning a second home in England has soared according to a respected Estate Agent

With a change in Holiday plans and less people venturing abroad it would seem that an increasing number of buyers believe that owning a second home is an investment and not just a luxury

These second homeowners are said to be benefiting from the millions of people who are unable to afford a holiday abroad and are therefore letting their second properties out during peak season.

The research found that the most popular places for a second home are Devon, Cornwall, Somerset and Dorset.

Many factors have contributed, not least the fall in the value of the pound which has resulted in a growing amount of people buying in England rather than overseas.

In the last few years, the cost of buying a home in France or Spain has risen by about a quarter for British people because of the collapse of sterling.