More than half of British buyers still want to buy a holiday home in the UK, according to estate agent Jackson-Stops.
The research, which spoke to more than 1,200 people, found that demand for a holiday hideaway is still high despite the additional 3% stamp duty levy on second homes.
The study centred on people’s preferences for home ownership, while also examining their sentiment of the UK property market. It revealed that whilst most Brits wish to buy a holiday home in the UK, just 39% of respondents felt that the tax on second homes is negatively affecting the market and slowing down levels of transactions.
According to the research, the most desired locations to purchase a holiday home in are all to be found on the coast, with 30% of British buyers outlining this as their first-choice destination.
Burnham Market, an area favoured by buyers from London and the outer edges of the Home Counties, was a prime choice for those looking for a holiday home by the sea.
For a fifth of respondents, an area of outstanding natural beauty in the UK was their top destination for a holiday home, while 5% said they’d like a second home in a UK town or city. International destinations weren’t out of the equation in the survey, with 35% choosing a holiday home in Europe over a second home in the UK. Only 14% of respondents, meanwhile, said they wanted to buy a holiday home outside of the UK or Europe.
“Our latest research confirms that the concept of the ‘Great British Break’ is still very much alive, with more than half of respondents stating their top holiday home destination would be within the UK,” Nick Leeming, chairman at Jackson-Stops, commented.
“With a huge variety of holiday locations to consider, the UK’s property market offers ample opportunity to find a dream holiday home, whether buyers are on the hunt for a cosy bolthole on the seafront, a chocolate box cottage in an area of outstanding natural beauty or a modern city centre flat.”
He said sailing, surfing, swimming and taking in the fresh sea air were all favourite British pastimes, so it was unsurprising that coastal locations topped the wish list for British buyers’ dream holiday home destinations.
“Whilst the second home stamp duty levy continues to be a challenge for the holiday homes market, there is still a clear demand for a British bolthole,” Leeming added. “This is undeniably linked to the uncertainty around Brexit which has increased the popularity of staycations in the last 18 months. This is not only due to unanswered questions around visas and home ownership in Europe, but also fluctuations in exchange rates as negotiations continue to unfold.”