Rapid Evidence Assessment of the Research ... - Rural Housing

Rapid Evidence Assessment of What the Research specific factors Literature attract on people the Purchase to buy and second Use homes of Second and Homes what types of property do they buy and where?
Introduction
98. The aim of this chapter is to analyse the quality and quantity of published research on factors that attract
people to buy second homes; the types of properties that are bought; and the location of properties.
Factors attracting people to buy second homes
99. There are a number of studies that have attempted to classify the factors that attract people to buy
second homes. But this form of research has limitations. For example, some studies try to identify a single key
factor (for example, Direct Line, 2005), while others focus on a limited number of reasons (for example, Gilbert,
2001 and the CLG Survey of English Housing). A more promising approach is to focus on the underlying
motivational factors that influence consumer behaviour (for example, Gallent, 2007). But there are as yet
relatively few studies of this type. It should also be noted that implicit in much of the research and data on this
topic is an emphasis on second homes in rural areas.
100. A significant weakness is the major research methodology gap between the urban literature on household
mobility in the owner-occupied sector and second home purchase. In relation to the former, there has been
considerable debate and the development of a range of types of approaches varying from neo-classical
economic models through to behavioural studies. Useful summaries can be found in O’Sullivan and Gibb
(2003). These approaches have not been adopted in the study of second homes in England or more generally
for rural housing markets.
101. The ‘single key factor approach’ is illustrated in the Direct Line (2005, p5) report. It indicates that the main
reasons for purchase are:
• Retreat for holiday, recreation and leisure: 51%
• Base for work or commuting to work: 19%
• Investment: 14%
• Home for family members studying away from the family home: 5%
• Inheritance property: 5%
• Properties purchased due to marital breakdown: 4%
102. It is important to recognise that the Direct Line definition of second homes is extremely broad (see Chapter
Two). Hence, categories such as ‘home for family members studying away from the family home’ are
problematic if a narrower definition is adopted.
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4. What specific factors attract people
to buy second homes and what types
of property do they buy and where?