Tuesday, June 22, 2010

Number of second homes reaches record high

By Myra Butterworth, Personal Finance Correspondent Published: 4:35PM GMT twenty-five February 2010

A sum of 6,212 some-more second homes were paid for last year, bringing the sum series to 245,384, according to estate agents Knight Frank. It is in contrariety to last year that saw numbers dump by 0.4 per cent.

Liam Bailey, head of residential investigate at Knight Frank, comments: "The series of second homes in England has been usually rising over new years. The retrogression and credit break saw this direction stutter in 2008 when the sum fell by 912 (or 0.4%). The liberation in 2009 with an one more 6,212 English second-homes, noted a lapse to prolonged tenure growth.

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Knight Frank attributed the climb to renewed certainty in the economy, reduce debt costs, and a weaker bruise that creates shopping a skill in Britain a cheaper choice than shopping abroad.

It additionally referred to the augmenting recognition of staycations when people select to outlay their holidays in Britain rather than abroad - helped to enlarge demand.

Mr Bailey predicted: "Looking brazen to 2010 the perspective is that expansion in direct ought to go on but the intensity expansion in second home numbers will be dynamic by the supply of properties for sale."


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