The number of people renting second homes has reached a record high according to Hamptons International

June 11, 2018

Hamptons International Monthly Lettings Index – May 2018  reveals the number of properties rented as a second home in Great Britain reached 13,680 last year, the highest number on record. 

The Hamptons International Lettings Index (formerly the Countrywide Lettings Index) reported that the number of rental properties used as a second home has been steadily rising since 2007 when its records first began.  Last year there were 136% more rented second homes than in 2007 when there were just 5,800.  This is also up 11% on 2016. 

The average rent of a second home reached £1,060 pcm in Great Britain last year. London has the third highest proportion of rented homes let as second homes, behind the South West in first place and Scotland in second.

Commenting Aneisha Beveridge, Analyst at Hamptons International, said:

“The number of people renting second homes has reached a record high.  The additional stamp duty surcharge on second home purchases introduced in April 2016, increased buyers’ upfront costs and resulted in more people deciding to rent a second home rather than buy.

“The places second home renters are choosing include a mix of town and country.  Second home rental hotspots reflect today’s lifestyle choices from the pied-à-terres in towns and cities, close to work, schools and all the amenities that city life has to offer, to rural and coastal locations perfect for escaping the trappings of a busy urban life.

“Average rents rose in seven out of eight regions in May on the back of fewer homes being available to rent than last year.  Rents in the North fell for the second consecutive month, meanwhile rental growth remained strong in Wales, the East and the Midlands.”

Read the Hamptons International Monthly Lettings Index report – May 2018 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Home and Living

Signs of Outdated Wiring in Older Tulsa-Area Homes

Tulsa has a lot of beautiful older homes. Brookside bungalows, Maple Ridge tudors, the postwar neighborhoods that fill out Midtown and East Tulsa. They were built well, but most were built before central air, before microwaves, before two-car households with two laptops and a dozen phone chargers. The electrical systems inside them were designed for…
Read More →
LIVING BY THE SEASIDE 2022
Breaking News

Britain’s seaside price hotspots revealed

New analysis from the UK’s largest property platform Rightmove reveals Britain’s seaside hotspots where prices are rising the fastest Bootle in Merseyside leads the way, with average asking prices up 11% year-on-year, followed by Crosby in Liverpool (+9%) and Penarth in South Glamorgan (+9%) Other coastal locations including Llantwit Major in South Glamorgan (+8%) and Llanelli, in Carmarthenshire (+7%) are also seeing strong price growth Average asking prices are currently 0.3% lower in Great Britain compared to last year, with some seaside hotspots outpacing the…
Read More →
Estate Agent Talk

Hertfordshire emerges as strongest performing London commuter county

New research from UK Property Development reveals that while London property prices fell by more than -3% in the past year, prices in some of the capital’s surrounding counties have enjoyed positive growth, none more so than the premium commuter county of Hertfordshire.   In the past year, London’s average house price has fallen by…
Read More →
Estate Agent Talk

Second homes losing appeal among the rich

New Survey Reveals Ongoing Maintenance Is the Biggest Barrier to Second Home Ownership   62% say upkeep and hassle would stop them from buying a second home, even if money were no object   A new survey conducted by luxury co-ownership platform Equity Residences has revealed that the practical realities of owning a second home…
Read More →
Letting Agent Talk

How to build a property portfolio with buy-to-let mortgages

One of the reasons property is such a popular asset choice for investors is that you don’t need to invest all the money yourself; you can leverage funds from the bank. Here’s a very simplistic example of how borrowing via a buy-to-let (BTL) mortgage allows you to multiply your returns versus owning a property all-cash:…
Read More →
Home and Living

2026’s Fastest-Growing Bathroom Trend Is the Wet Room

“Wet rooms have become one of the standout bathroom upgrades of 2026, moving from luxury extra to everyday renovation choice as more homeowners prioritise space, style and easy cleaning. The momentum is only building as spa‑style bathrooms stay in demand.” “Wet rooms used to be a niche request,” says Ant Langston, Marketing Manager at Heat…
Read More →