Sec­ond homes

Un­ex­pected prop­erty hotspots

The Sunday Telegraph - Money & Business - - Money - Sam Brod­beck

In some parts of Bri­tain more than one in three prop­erty trans­ac­tions is for a sec­ond home.

Since April 2016 prop­erty buy­ers have had to pay ad­di­tional tax on sec­ond homes in the form of an ex­tra three per­cent­age points in stamp duty.

Govern­ment sta­tis­tics pub­lished last week name the ar­eas with the high­est pro­por­tion of ad­di­tional prop­erty sales. Un­sur­pris­ingly, sev­eral Lon­don bor­oughs make the top 10 list – in­clud­ing Kens­ing­ton and Chelsea, West­min­ster and the City of Lon­don.

How­ever, less wealthy parts of the UK are also in­cluded, such as North­ern Ire­land’s Cause­way Coast (right), where 30pc of all res­i­den­tial prop­erty sales were sec­ond homes. In Gwynedd, north-west Wales, the fig­ure was 34pc, while in Black­pool it was also 30pc. There was a 10pc in­crease in the to­tal amount col­lected in stamp duty last year, from £9.6bn to £10.4bn.

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