2
Mar
Value of second properties 'holds up well in some areas'
People who have gone through the conveyancing process to secure a second property
may see the value of it hold up well.
This is according to Lucian Cook, director of residential research
at Savills, who noted that residences located in prime spots are
still considered desirable.
He commented: "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."
Examples of good spots for second property ownership are those with
"good, uninterrupted sea views", he noted.
Such homes tend to be considered more valuable than those that are
a mile back from the coast, the expert claimed.
His comments were made following the release of a Knight Frank
report, which revealed that the number of second homes in England
increased by 2.6 per cent last year to reach a record high of
245,384.
