Two-thirds of the second-home sales in the UK are to second-generation buyers, a report from Property Intelligence finds.
The study found that over the last four years, the proportion of second-sale property transactions has grown by more than 60 per cent, but it said that the trend towards second-owned properties has had the biggest impact on the environment.
“It is increasingly becoming a concern that there is little or no consideration of the impact of second homes on local land, water and air quality, and therefore little to no consideration that the use of second properties may have an environmental impact,” the Property Intelligence report says.
It says the problem of second home shopping has been “increasingly recognised by retailers, who have recently started making efforts to reduce the impact on local communities”. “
Second-hand retailers also seem to be buying property for their own use and for their friends, rather than the use that it is to support local communities.”
It says the problem of second home shopping has been “increasingly recognised by retailers, who have recently started making efforts to reduce the impact on local communities”.
It also highlighted that third-party sellers of second hand goods in the second home market, which are owned by other sellers, are not getting the same level of scrutiny.
Property Intelligence’s analysis found that third party sellers of new second-floor or third-floor properties are often in breach of the Landlord and Tenant Act 1988 and are “at the mercy of the sellers who may not be aware of the nature of their relationship with the landlord and tenants”.
“Third-party vendors are able to use second-level properties for business, leisure and entertainment purposes, and this has a direct impact on environmental performance,” the report states.
It concludes that it has been difficult to identify a clear solution to this problem and that the “environmental benefits” of second housing are often under-estimated by the public.
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