Kensington, Chelsea residents lead UK in using holiday homes
RESIDENTS of London’s richest borough lead the UK in using holiday homes, adding to a trend of more time off spent within Britain.
Those conclusions based on census data released on Tuesday (Jun 20) show that one in 100 Londoners use a holiday home to escape the capital at least 30 days a year. In Kensington and Chelsea, 5.7 per cent of the population has a place away.
Cornwall in England’s mid-south-west corner was the most popular destination. South Hams on the southern coast in Devon and Gwynedd in North Wales had the highest proportion of holiday homes, according to the data from the Office for National Statistics (ONS).
The findings shed light on a growing crisis in the housing market, with soaring mortgage rates and a cost-of-living squeeze pricing more first-time buyers out of the market while the richest people can maintain more than one property.
Prime Minister Rishi Sunak’s government has watered down commitments to build more homes after resistance from members of the ruling Conservative Party concerned about protecting the countryside.
ONS said in some places in England and Wales, more than 10 per cent of the homes are used for holidays. About 70,000 addresses were used for breaks by 200,000 people, according to 2021 census data.
A NEWSLETTER FOR YOU
Tuesday, 12 pm
Property Insights
Get an exclusive analysis of real estate and property news in Singapore and beyond.
Covid-19 lockdowns may have had an impact on the findings, ONS said, noting specifics were hard to measure.
The UK and Welsh parliaments last year both passed legislation to regulate second homes. The UK extended council tax to those that aren’t genuine holiday lets rented out for at least 70 days a year and available to let at least 140 days.
Even so, taking holidays in the UK is becoming more common. Almost half of those using a second address, or 48.5 per cent, travelled within the UK in 2021, up from 42.3 per cent a decade ago.
The data counted 93,650 people in London who used a second address for holidays. Almost two-thirds of those travelled outside the UK. BLOOMBERG
Share with us your feedback on BT's products and services
