Homegrown holiday houses set for boomA desire to be 'greener' is one reason for trend
09 November 2007
Britons are buying more second houses at home rather than abroad, according to a new report.
Concerns about air travel and hopes that the weather will get better in the UK will lead to the UK holiday homes market increasing by 44% by 2027, according to home insurer Direct Line.
There are already 3.2 million second homes in the UK, including both holiday homes and buy-to-let properties, an increase of 30% since the millennium.
Within this figure there are 224,000 holiday homes, and an extra 108,000 holiday homes could be bought in the UK over the next 20 years, the report predicted.
The environmental impact of air travel and the expectation of rising air fares were seen as two key factors in choosing a UK holiday home rather than one abroad, with 15% of current UK holiday homeowners admitting that the impact of air travel was 'vital' to their choice of buying in the UK.
Andrew Lowe, Head of Home Insurance at Direct Line, said: 'Going green has become one of the biggest trends of the last few years and we are now seeing this extend to the second homes housing market.
'Our report shows that in the future, large numbers of Brits will choose to buy a holiday home on UK soil rather than overseas.
'For those who are concerned about their carbon footprint, a holiday closer to home can be the most environmentally friendly option.'
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