Second home waiting lists 'lengthening'

Posted: 06 Nov 2008 08:59:54 GMT

            Property News - Second home waiting lists 'lengthening'

The top locations for second homes have seen a 66 per cent rise in housing waiting lists this year, new research reveals.

According to the National Housing Federation (NHF), the top ten areas in the country for buying second homes now have an average waiting list in excess of five years.

It found that the City of London is the leading location for second homes - one in four properties are owned by people who do not live there on a full-time basis.

But the majority of the list was made up of rural and coastal areas, where housing sales have surged in recent years.

David Orr, chief executive of the NHF, said: "People have every right to buy a second home and live wherever they want to.

"But we must recognise the fact that second home ownership has, in many cases, priced local people out of these highly desirable locations."

Last month, the NHF welcomed an announcement by energy secretary Ed Miliband that he will force utilities companies to introduce fairer pricing for prepayment meter customers.

It warned, however, the even under the new plans, prepayment meter customers could end up paying significantly more for their utilities than anyone else.

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