While many Brits still dream of owning a ‘place in the sun’, rule changes since Brexit mean more people are choosing to buy second homes in the UK instead. 

The latest English Housing Survey data shows that around 520,000 households now own a second home in the UK, compared with just 279,000 back in 2008. This is based on second homes being mainly used by owners or let out as a holiday let, as opposed to a BTL property.

Because the increase in UK-based second homeownership has coincided with a dip in investment abroad, it seems that Brexit has also had a major impact on this trend. Now, British citizens without a visa cannot spend more than 90 days in an EU country in any 180-day period, dampening the appeal of second homes in Europe.

The English Housing Survey found that the proportion of Brits owning second homes in Europe has fallen, with only around 30% of British-owned holiday homes being found in EU countries. This compares to around 40% 10 years ago. Instead, 60% of all second homes are located in the UK.

The data also revealed that only around 60,000 people now own holiday properties in France, down from 89,000 in 2008.