Twice as many holiday homes in five years

The number of holiday homes could double in the next five years, says Halifax Estate Agency.

Around 3.5 million UK citizens now own holiday homes and the UK is the most popular country for Brits to buy second homes in.

Halifax says almost 28% of people have their second properties in this country, with Spain being the second most popular place to buy.

It says 7% of UK citizens are likely to purchase a holiday home in the next five years and this could double the number of second properties owned.

Colin Kemp, managing director of Halifax, says: “Many people just see a holiday home as a place to get away from it all but some also see it as an investment.”

Sole broker Roy New says: “This research shows that the British economy is strong and people have enough money to buy second and holiday homes. People choose to buy in this country because it is the jewel in the crown and they like the civilised lifestyle and stability it offers.”