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

Estate Agent Talk

Buy-to-Let Explained: How It Works and Is It Worth It?

Buy-to-let is one of the most popular property investment strategies in the UK, attracting investors who want to generate regular rental income while benefiting from long-term property value growth. Whether you are a first-time landlord or someone considering adding property to an existing investment portfolio, understanding how buy-to-let works is essential. If you are exploring opportunities with Whitegates…
Read More →
Letting Agent Talk

The Hidden Cost of Deposit Disputes for Letting Agents

Nobody gets into lettings because they love arguing over oven grease. Yet for a growing number of letting agents across London and beyond, deposit disputes at the end of a tenancy have become one of the most quietly destructive parts of the job — eating into time, draining morale, and slowly eroding the trust that…
Read More →
Breaking News

Britain’s strongest housing markets revealed

The latest research from Benham and Reeves reveals the best-performing housing markets across Great Britain when it comes to the average rate of house price growth seen over the course of 2025, with the northern regions and Scotland outperforming most of the rest of the country with annual price growth of up to 11%. Last…
Read More →
Rightmove logo
Breaking News

Over £900 million economic opportunity lost to property fall throughs

Analysis from the UK’s largest property platform Rightmove reveals there is an economic opportunity of over £900 million in England if the number of property transactions falling through can be reduced The calculations show that nearly £392m in potential estate agency revenue and £515m in potential government stamp duty receipts were lost last year to…
Read More →
Breaking News

Landlords chasing rental arrears of £470m

The latest research from Propoly – the platform that automates compliance, reduces risk and protects landlords – has revealed that landlords in England deal with more than £470 million worth of rent arrears in a year, with the largest number of tenants in arrears found in London and the North East. Propoly has analysed the…
Read More →
Estate Agent Talk

Building Buyer Trust Through Architectural Visualization in Real Estate Marketing

In real estate marketing, trust is not a soft value. It is a transaction driver. Buyers commit to years of financial exposure based on how credible a project feels long before it is built. That credibility is no longer shaped by brochures alone. Today, developers often work with a rendering agency to construct a visual…
Read More →