Cornwall named as the most popular place to buy a holiday home in the UK
PUBLISHED: 12:50 26 February 2018 | UPDATED: 12:50 26 February 2018
Recent research has revealed Cornwall to be the most popular place to buy a holiday home in the UK.
New research by holiday home insurance company Schofields Ltd, has revealed Cornwall to be the most popular place to buy a holiday home in the UK. The nationwide research, found out that Cornwall, Norfolk and Cumbria are the top places to own a holiday home, with many of the owners residing in big cities and using second homes to have a weekend bolthole away from city life.
Cornwall has the most holiday homes due to its warmer weather, stunning sandy beaches and the longest coastline which attracts more than 5 million visits per year. The other top holiday home hotspots are revealed below.
Most popular holiday home locations in the UK:
Cornwall - 28% is the most popular place to escape to in the UK.
Norfolk - 17%.
Devon - 16%.
Cumbria – Lake District – 14%.
Northern Ireland –12%.
Lothian – Edinburgh – 8%.
Peak District – 5%.
The study also shows the average distance home owners live in comparison to their holiday home with Cornwall, on average, the furthest away.
Average distances to travel:
Cornwall: 220 miles on average
Devon: 163 miles
Norfolk: 88 miles
Lake District: 176 miles
Edinburgh: 105 miles
Northern Ireland: 131 miles
Peak District: 103 miles
This data shows that the majority of holiday home owners do not live in the local area, a contentious issue with residents of these holiday destinations who believe that locals are being priced out of the housing market by out of towners.
Phil Schofield, Head of Inbound Marketing at Schofields said:
“St. Ives, a small seaside town in Cornwall, has previously bemoaned the stream of holiday home owners purchasing in their town, creating a lull for local businesses in off season meaning they have difficulties sustaining business year-round. As a result, they have enforced restrictions including a ban on new home purchases and all new build properties need to be owned for “full residential use”.
“However, we have found holiday home owners disagree, stating that they contribute to the local economy in a variety of ways not just when they are visiting. Many holiday home owners argue that they spend a lot of money on the upkeep of the property, hiring local builders, gardeners and cleaners especially if they let out their properties. Although many property owners rent out their homes during the year businesses can still profit, especially during the peak seasons. Property owners don’t want their houses sitting empty over the off-peak season so also invest a lot of money to attract visitors all year round.”