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

Rapid Evidence Assessment of the Research Literature on the Purchase and Use of Second Homes
144. It was, however, a series of other considerations that were the main drivers, including the image of the
rural idyll and the investment potential (see Chapter Four). A key issue is whether these broad trends will
continue into the second decade of the twenty-first century i.e. a continuing expansion of second home
ownership and a broadening and growing diversity of the socio-demographic profile of purchasers?
145. Gilbert (2001, chapter 5) comments that there are a range of factors that might continue these trends
such as changing lifestyles, employment options and population/household change. More specifically, they
include:
• The growth of dual location households where the distinction between second homes and long distance
commuting becomes more blurred (see also Green et al, 1999).
• Rural home working options (made possible through information communications technology) combined
with a flat in an urban area.
• Population and household projections suggesting a significant growth of over 45 per cent in the period to
2021 of the population in the age group 50-64 years old, as well as two person older married and
cohabitating couples that are asset rich.
• A buoyant economy and a housing market with significantly higher property price rises in London and the
South East, which will enable more households to consider second home ownership.
146. Direct Line (2005) develop this perspective and argue in Part Two of their study that the gradual rise in
second home ownership will continue over the next decade. They comment, however, that the “typical profile
of an affluent 45-64 year old second home owner” (ibid, p8) will not significantly change. This is because of a
number of factors, including:
• Age structure of the population i.e. a growth in the 45 to 64 year old age group;
• Increasing affluence;
• Changing lifestyles such as flexible employment and working arrangements; and
• Changing family structures with a growth of cohabitating and unmarried couples owning more than one
property.
147. There is, thus, an agreement on the continued growth of second home ownership. But there is less
certainty and consensus on the degree to which second home ownership will have a broader sociodemographic
base.
Information on second home purchases from an international perspective
148. A study that reviews evidence worldwide suggests that “Recent developments in Europe, Australasia and
North America indicate that second home ownership can usefully be approached from a life-cycle perspective,
particularly in the context of retirement second home ownership” and this can be “a precursor to permanent
national or international migration” (Hall & Müller, 2004, p11).
149. With changing economic and demographic trends, especially older more affluent populations, some
studies predict that second home ownership will be a growing phenomenon worldwide (for example, Hall &
Müller, 2004). It has been suggested that in the UK “Second homes may become endemic, a part of everyday
life and embedded in British culture” (Gallent et al, 2005, p225).
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