Letting Of Former Cornwall Council Houses To Be Investigated

Cornwall Council has outlined plans to clamp down on former council houses being used as holiday homes. The council has proposed setting up a dedicated investigation and enforcement unit to restrict the practice. Homes sold under the government's Right to Buy scheme are usually restricted from being used as holiday lets or as houses of multiple occupancy so they are protected for use by local people. It is believed there are dozens of homes being advertised online. Read more on the BBC website.

https://www.bbc.co.uk/news/uk-england-cornwall-58570565

More Than 11,000 Properties Flipped To Holiday Homes Amid Staycation Boom

 More than 11,000 second-home owners in England have flipped their properties to become holiday lets since the start of the pandemic, to capitalise on soaring demand for staycations. New analysis of government figures shows that the number of holiday homes trading as businesses has jumped by more than a fifth since the pandemic hit. The data shows that there are now 67,578 homes in England classified as holiday homes which have been flipped to become commercial premises, compared with 56,102 properties in March last year. Read more on the ITV website.

https://www.itv.com/news/2021-09-05/more-than-11000-properties-flipped-to-holiday-homes-amid-staycation-boom

Holiday Homes See Average Prices Rise By 12% In Six Months

Continued interest in second homes and the growing unlikelihood of foreign holidays this summer have seen the average purchase price of a holiday home increase by 12% in the past six months, according to the latest data from Hodge. According to the specialist lender, in October 2020, the average purchase price of a holiday let mortgage application through the firm was £387,993, jumping to £435,476 in March 2021 - a 12% increase over just six months. The lender says that it has also seen a 30% leap in holiday-let mortgage applications in the six months to March 2021, with the average mortgage also increasing by 7% over that time. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/holiday-homes-see-average-prices-rise-by-12-in-six-months.html 

Labour Plans £560m A Year Levy On Holiday Homes

Labour has announced new plans to introduce a levy on second properties used as holiday homes, in a bid to tackle homelessness. Under the plans, the holiday homes would face an average annual bill of around £3,200, meaning the estimated 174,000 properties used for this purpose in England could generate up to £560m a year. The new levy would be based on a property’s council tax band and represent a doubling of its council tax bill. Labour stressed that the new levy would only be applicable to second homes primarily used as holiday houses, and would not include homes that are rented or used for employment, or static caravans. Read more on the propertyreporter website.

http://www.propertyreporter.co.uk/property/labour-plans-560m-a-year-levy-on-holiday-homes.html