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August 8, 2018

Brits love a great British break

Filed under: Latest News — Instinctif Partners @ 8:42 am

Nick Leeming, Chairman of Jackson-Stops, provides his insight on our latest research on British buyers’ dream holiday home destinations.      

With a huge variety of 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, all tastes are catered for, so it is not surprising that the concept of the Great British Break is still very much alive.

Our latest research, which investigated the views of over 1,200 people, revealed that 54% of British buyers still want to buy a holiday home in the UK despite the 3% levy on Stamp Duty Land Tax (SDLT) for second homes.  Whilst the SDLT continues to be a challenge for the holiday homes market, there is still a clear demand for a coastal home retreat. Sailing, surfing, swimming, and taking in the fresh sea air are all favourite British past times, which points to why one third of British buyers want a second home by the water.

Burnham Market, an area favoured by buyers from London and the peripheral Home Counties, is a prime choice for those looking for a bolthole by the sea. The quintessentially British village sits just a stone’s throw from the stunning North Norfolk coastline and offers and array of beaches, renowned restaurants and hotels.

Over a fifth of respondents referenced an Area of Outstanding Natural Beauty in the UK as their top destination for a holiday home, with 5% choosing a UK town or city.

Just over a third of those surveyed would chose a holiday home in Europe, while interestingly, less than 11% of respondents desired to purchase a holiday home outside of the UK or Europe.

Those looking to rent their UK holiday home out whilst it is not in use should look to traditional holiday destinations across the UK such as the Cotswolds, historic cities and popular coastal towns. These areas are not only growing in popularity with UK holidaymakers but also with international visitors – a prime example of this is the Tour de Yorkshire bringing more international interest to York than ever before.