2m Britons own second homes

Over two million people now own a second home in Britain.

poVQHVstecy9VkeZrVnnya.jpg

According to figures from the Office of National Statistics, 5% of the UK adult population have a family home and at least one other property.

Typically, second homes are a country house, but a rising number own buy-to-let investment property in town and city centres.

Those living in the south east are most likely to be part of the 2.1million holding more than one property.

7% of adults in the south east area own a second home, contrasting with only 3% in the north east, north west and Midlands.

The most common spots for second homes are the Norfolk, Cornwall and Devon coasts. Another popular place is central London, where young couples or families with their main home in the country own pied-a-terres.

The ONS's Wealth and Assets Survey also points out that 850,000 Britons (2% of adults) have bought a second, or even third, home abroad. The most popular countries are Spain, France and Florida.

The report predicts the number of Britons owning overseas homes will jump to two million by 2025. There are two types of homeowners - pensioners who want to escape the cool British winters for warmer climes and wealthy Britons over the age of 45.

Some experts warn, however, the risk to homeowners who have money tied up in housing if property prices flatten, or even plunge.

Country Life

Country Life is unlike any other magazine: the only glossy weekly on the newsstand and the only magazine that has been guest-edited by HRH The King not once, but twice. It is a celebration of modern rural life and all its diverse joys and pleasures — that was first published in Queen Victoria's Diamond Jubilee year. Our eclectic mixture of witty and informative content — from the most up-to-date property news and commentary and a coveted glimpse inside some of the UK's best houses and gardens, to gardening, the arts and interior design, written by experts in their field — still cannot be found in print or online, anywhere else.

Latest in Country Life
geography
New York v Tokyo v Rome: Country Life Quiz of the Day, March 27, 2025
Morecambe Bay
Sitting on the dock of Morecambe Bay: Country Life Quiz of the Day, March 26, 2025
hat
Name that hat! Country Life Quiz of the Day, March 25, 2025
dogs on Country Life 26 March 2025
Country Life 26 March 2025
crufts winner
The most successful dog breed in the history of Crufts? Country Life Quiz of the Day, March 24, 2025
Franz Winterhalter's Queen Victoria
What was Queen Victoria's real first name? Country Life Quiz of the Day, March 21, 2025
Latest in News
geography
New York v Tokyo v Rome: Country Life Quiz of the Day, March 27, 2025
Morecambe Bay
Sitting on the dock of Morecambe Bay: Country Life Quiz of the Day, March 26, 2025
hat
Name that hat! Country Life Quiz of the Day, March 25, 2025
crufts winner
The most successful dog breed in the history of Crufts? Country Life Quiz of the Day, March 24, 2025
Franz Winterhalter's Queen Victoria
What was Queen Victoria's real first name? Country Life Quiz of the Day, March 21, 2025
Event pics
Reader Event: Why Sir John Soane matters