Second home ownership is a popular trend across the world, with many people opting to purchase additional properties for vacation or personal use. In this blog post, we will be exploring second home ownership statistics from around the globe. We'll look at data from countries such as the UK, US, Australia, France and Italy; as well as Canada, South Africa and New Zealand. Additionally we’ll examine trends in financing options for second homes buyers in 2020 and how age affects purchasing decisions.
This statistic is a telling indication of the prevalence of second home ownership in the UK. It highlights the fact that a significant portion of property sales in the country are for second homes, which can have a major impact on the housing market. This statistic is important to consider when discussing the implications of second home ownership, as it provides a tangible measure of the scale of the issue.
As of 2018, there were around 1.5 million second homes in the US.
This statistic is a telling indication of the prevalence of second home ownership in the US. It demonstrates that a significant portion of the population has chosen to invest in a second home, whether for personal or financial reasons. This statistic is important to consider when discussing the implications of second home ownership, as it provides a snapshot of the current state of the market.
Second Home Ownership Statistics Overview
In Australia, approximately 9% of the population owns a second home.
This statistic is a telling indication of the prevalence of second home ownership in Australia. It highlights the fact that a significant portion of the population has access to a second home, which can be used for a variety of purposes, such as vacationing, investment, or retirement. This statistic is important to consider when discussing the implications of second home ownership in Australia.
In the UK, people owning a second home more than doubled from 1.6 million in 2000 to 3.4 million in 2018.
This statistic is a powerful indicator of the growing trend of second home ownership in the UK. It shows that the number of people owning a second home has more than doubled in the past 18 years, highlighting the increasing popularity of this type of investment. This statistic is important to consider when discussing the implications of second home ownership, as it provides a clear picture of the current state of the market.
63% of second-home buyers in the US purchased their property for vacation or personal use in 2020.
This statistic is a telling indication of the current state of second-home ownership in the US. It reveals that the majority of second-home buyers are purchasing their property for leisure and recreational purposes, rather than as an investment. This insight provides valuable insight into the motivations of second-home buyers and can help inform decisions about the future of second-home ownership.
There was a 30% increase of second home sales in the US in 2020.
The 30% increase in second home sales in the US in 2020 is a telling statistic that speaks volumes about the current state of second home ownership. It indicates that more and more people are investing in second homes, likely due to the increased flexibility and freedom that comes with owning a second home. This statistic is a great starting point for exploring the current trends in second home ownership and the potential benefits of owning a second home.
24% of second home buyers in the US intended to use the property as a short-term rental in 2020.
This statistic is significant in the context of second home ownership statistics as it highlights the growing trend of people investing in second homes for short-term rental purposes. It indicates that more and more people are taking advantage of the potential financial benefits of owning a second home and using it as a source of income. This trend is likely to continue in the future, making second home ownership an increasingly attractive option for those looking to invest in real estate.
In Canada, the average price of a second home increased by 11.5% in 2020.
The 11.5% increase in the average price of a second home in Canada in 2020 is a telling statistic that speaks volumes about the state of second home ownership in the country. It indicates that second home ownership is becoming increasingly popular and that the demand for second homes is on the rise. This could be due to a variety of factors, such as an increase in disposable income, a desire for more space, or a desire to invest in real estate. Whatever the reason, this statistic is an important indicator of the current state of second home ownership in Canada.
46% of US second home buyers bought an existing property, while 37% bought a new construction home in 2020.
This statistic is a telling indication of the current state of the second home market in the US. It reveals that the majority of second home buyers are opting for existing properties, rather than new construction homes. This could be due to the fact that existing properties are often more affordable, or that buyers are looking for a more established home with a certain character. On the other hand, the fact that 37% of buyers are still opting for new construction homes suggests that there is still a strong demand for new homes in the second home market.
Spain has the second-highest rate of second home ownership in Europe with 28% of Spanish households owning a second home.
This statistic is a telling indication of the prevalence of second home ownership in Spain, highlighting the fact that a significant portion of Spanish households have access to a second home. This is an important point to consider when discussing second home ownership in Europe, as it demonstrates the extent to which this type of ownership is commonplace in Spain.
In South Africa, approximately 16% of all residential property sales in 2019 were for holiday and second homes.
This statistic is a telling indication of the growing trend of second home ownership in South Africa. It shows that a significant portion of residential property sales in 2019 were for holiday and second homes, suggesting that more and more people are investing in second homes as a way to diversify their portfolios and enjoy the benefits of owning a second home. This statistic is an important piece of information for anyone considering investing in a second home in South Africa.
Around 5% of second homes in the US are co-owned by multiple families.
This statistic is significant in the context of second home ownership statistics as it highlights the growing trend of multiple families co-owning second homes. It indicates that more and more families are choosing to share the costs and responsibilities of owning a second home, allowing them to enjoy the benefits of owning a second home without the burden of shouldering the entire cost alone.
In Portugal, second home ownership has been estimated at 15% of the Portuguese population.
This statistic is a telling indication of the prevalence of second home ownership in Portugal. It reveals that a significant portion of the Portuguese population has access to a second home, which can be used for a variety of purposes, such as vacationing, investment, or retirement. This statistic is important to consider when discussing the implications of second home ownership in Portugal, as it provides a snapshot of the current state of the market.
In New Zealand, second home ownership accounts for about 6.5% of the total residential properties.
This statistic is a telling indication of the prevalence of second home ownership in New Zealand. It provides a snapshot of the number of residential properties owned by second home owners, and can be used to gauge the impact of second home ownership on the housing market. It is an important statistic to consider when discussing the implications of second home ownership in New Zealand.
From 2000 to 2017, the number of second homes in the Netherlands increased by 53%.
This statistic is a telling indication of the growing trend of second home ownership in the Netherlands. It shows that over the past 17 years, more and more people have been investing in second homes, likely due to the increasing availability of affordable housing and the desire for a second home as a vacation or investment property. This statistic is an important piece of information for anyone interested in learning more about second home ownership in the Netherlands.
Conclusion
The statistics in this blog post demonstrate that second home ownership is a popular trend across the globe. In 2020, there was an increase of second home sales and purchases due to the pandemic, with many buyers opting for properties within driving distance or short-term rentals. The average age of a second home buyer varies by country but generally falls between 50 and 55 years old. Additionally, financing options are available for those looking to purchase a property as well as co-ownership opportunities which can help reduce costs associated with owning multiple homes.
References
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6. - https://www.abs.gov.au
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9. - https://www.cnbc.com
10. - https://www.royallepage.ca
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13. - https://www.census.gov
