Staycationing Britons boost housing market
18th August 2010
The humble staycation could be having a positive impact on the stuttering UK housing market, research has suggested.
The growing popularity among Britons to pack up the car, check over their breakdown cover and hit the road in search of domestic holiday bliss is understood to have helped drive a 2.6% increase in the number of people investing in second homes.
Some 245,384 people now own a second home in the UK - a figure that has risen in line with a surge in the number of people choosing to stay at home rather than jet off in search of more temperate climes during the economic downturn.
Estate agent Knight Frank said it expected demand for the properties to continue growing during 2010, and is predicting a further 2% increase in the number who own a holiday property by the end of this year.
The number of nights spent in self-catering apartments in the UK has risen 67% over the past three years as holidaymakers swap foreign travel insurance and airport check-ins for four wheels and home-grown adventure.
Copyright © Press Association 2010
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