There has been a sharp growth in sales and values of second homes in the UK as the weakness of sterling and fall in prices from the market peak have encouraged buyers to stay in the country rather than look abroad.
The number of sales of second homes worth more than £750,000 picked up by 40 per cent in the past three months of 2009 compared with the three year average, according to data by Savills, the property consultant. This compares with an uplift of just 10 per cent in total prime regional transactions.
Source – Financial Times
Justin Moy