Death of the second home, data reveals
Summary
Latest data suggests the second-home market is weakening, with house prices falling in most of England’s highest-density second-home areas and the overall number of second homes in England declining since 2024. The article links this trend to tax changes, including the higher Stamp Duty surcharge on additional properties and council tax premiums, alongside proposed planning restrictions in shortage areas.
Why it matters
Surveyors working in coastal and rural markets may see softer demand, weaker comparables and changing owner-occupier versus holiday-let dynamics. The policy backdrop also matters for valuation assumptions, market commentary and advice on second-home affected locations.
Key points
- House prices fell in 19 of the 25 areas with the highest density of second homes.
- The number of second homes in England has fallen by around 12,000 since 2024.
- South Hams in Devon recorded an annual price fall of 6.6%.
- The article cites higher Stamp Duty surcharge rates and council tax premiums as reducing appeal.
- A Private Member’s Bill is proposing planning powers to restrict conversion of homes into second homes.
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