Second home owners ''affect buyers''
Thu 31st Jan, 18:22:55 GMT
People who own more than one property are having an impact on buyer''s chances of being able to snap up a home of their own, it has been suggested.
The market for second-homes is strong, with research from home insurance provider Direct Line revealing that there are currently 328,000 second-homeowners in the UK.
While the idea of owning another property, either for investment purposes or for use as a holiday home, is attractive to many people, a spokesman for the National Housing Federation explained that second-home owners are "definitely having an impact on house prices generally", particularly as the supply of housing in the UK is already restricted.
"One of the great pressures on the market is the fact that there is such a shortage of supply and incredibly high demand, so it''[curly]s inevitable that the large number of second home owners has had an impact," he explained.
The situation does not look set to get any easier, with Direct Line forecasting that the number of people who own multiple properties will increase over the next seven years to 405,000.
The market for second-homes is strong, with research from home insurance provider Direct Line revealing that there are currently 328,000 second-homeowners in the UK.
While the idea of owning another property, either for investment purposes or for use as a holiday home, is attractive to many people, a spokesman for the National Housing Federation explained that second-home owners are "definitely having an impact on house prices generally", particularly as the supply of housing in the UK is already restricted.
"One of the great pressures on the market is the fact that there is such a shortage of supply and incredibly high demand, so it''[curly]s inevitable that the large number of second home owners has had an impact," he explained.
The situation does not look set to get any easier, with Direct Line forecasting that the number of people who own multiple properties will increase over the next seven years to 405,000.
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