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In a recent report published by the English Housing Survey, it has been revealed that the number of English citizens owning second homes in Europe has experienced a significant decline, with a notable shift towards acquiring properties within the UK. The data unveiled a noteworthy change in ownership trends over the past decade, attributing the transformation to the impact of Brexit on travel regulations.
Approximately ten years ago, the distribution of second homes among English owners was relatively balanced, with 51% of the properties located outside the UK, predominantly in countries like France and Spain. However, the latest figures highlight a substantial change in preferences, with 60% of holiday homes now situated within the UK itself.
Brexit, which brought about several changes in travel and residency regulations, appears to have played a pivotal role in reshaping the second home market. One of the major effects is the limitation imposed on British citizens, who are not visa holders, restricting their stay in EU countries to 90 days within any 180-day period. As a result, the number of English-owned second homes in European nations, including popular destinations like France, has seen a decline. Specifically, the report indicates that the ownership of second homes in France by English citizens has reduced from 89,000 in 2008 to 60,000 at present.
Moreover, the overall proportion of second homes owned by English residents in Europe has decreased significantly, accounting for less than 30% of the total properties, compared to 40% back in 2012.
Conversely, the survey identifies a surge in the preference for purchasing second homes within the UK itself. The statistics demonstrate a substantial rise in domestic ownership of such properties, with a staggering increase from 279,000 in 2008 to 520,000 households at present. Notably, the residents of the south-east and London have emerged as the most prominent buyers of second homes, followed by those living in the Midlands and the east of England.
The survey's definition of second homes includes properties primarily utilized by owners for holiday purposes or those provided to others as vacation homes. Additionally, it encompasses properties occupied by their owners while they are working away from their primary residence.
As the English Housing Survey highlights the changing dynamics in the second home market, it raises further discussions on the broader implications of such ownership patterns and the need for a balanced approach to maintain both the housing market's stability and the sustainability of local communities in popular holiday destinations.
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