In London, 27% Of Homes Are Secondary
The Guardian tells us there are many second homes in the UK. "Nearly 230,000 properties in England are now second or holiday homes. The largest concentration of second homes is in the financial heart of London, where they account for 27% of the total housing stock."
"Overall, second homes accounted for more than 5% of the total housing stock in 18 local authorities."
"Relatively high house prices in the main second home hotspots mean that a significant amount of potential demand is being diverted overseas where property can be picked up for much less money."
Who is going to be in these houses in ten years? "Nearly a third of people who owned a second home were aged between 55 and 64."