While second home buyers have been making up a progressively smaller proportion of the market, accounting for only 1.3% of sales in the first quarter of this year, those setting up holiday let limited companies have been increasing in number. This suggests that some long-term landlords have switched to the holiday let market to seek bigger profits. However, this has put pressure on the availability of homes for locals in some pockets of the country and is why the government is looking to introduce rules forcing new second homeowners to seek planning permission to let their property on a short-term basis.
Holiday homes - seven key facts on governments new proposals:
