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Properties in 'best locations hold value more'
Posted: 03 Mar 2010 11:09:40 GMT
Those looking to purchase a second home may wish to do so in what is considered to be a desirable area, as one expert has advised that properties in the best locations in the UK tend to hold their value.
Lucian Cook, director of residential research at Savills, says: "What you do tend to find is that the very best locations and the very best settings tend to hold their value much more than something which is secondary."
He states that coastal properties with "uninterrupted sea views" are particularly sturdy choices in terms of holding their value.
Mr Cook's comments come in response to recent figures from Knight Frank, which reveal that the number of second homes in England rose by 2.6 per cent during 2009 to an all-time record of 245,384.
Research from the estate agents shows that the most popular areas of the country for second home purchases were South Hams, north Cornwall, Berwick-upon-Tweed, north Norfolk and Penwith.
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