Our Top 3 Locations to Buy a Holiday Home in the UK

Buying a Holiday Home in the UK: The Process

If you’ve arrived here, it’s likely you’ve already made a handful of important decisions, but with purchasing processes differing from country to country, there is still a long way to go before you can start enjoying your second home. To make things a little easier, we’ve outlined seven key steps to vacation home ownership in the UK below.

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1. Arrange financing, such as a mortgage, if needed.
   
   
2. Complete the transaction by signing contracts and paying associated fees.
    
3. Finally, register the property with the Land Registry to formalise the second homeownership.

1. Determine your budget and preferred location, researching the market to find properties that meet your criteria.
   
   
2. Engage a local estate agent or advisor for professional advice and to help you shortlist and view potential properties.
   
   
3. Once you find a holiday home, make an offer. Once it’s accepted, you’ll need to hire a solicitor to handle the legal aspects, including conveyancing and property searches.
   
   
4. Conduct a thorough survey of the home to identify any issues that may arise in the future.

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 Our Top UK Holiday Home Locations

1. London

History, culture, tradition. The British capital of London has it all. No wonder, then, that buying a holiday home here is appealing. Along with its unique blend of vibrant culture, rich history, and world-class entertainment, the city's property market has a strong track record of appreciation, ensuring long-term value growth. Owning a holiday home in the UK’s capital also means easy access and connections to the rest of the UK, with transport links leading to other major cities and coastal and country escapes all within an hour’s drive. Additionally, it provides a convenient base for European travel.

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Accessibility

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London is renowned for its excellent accessibility. Not only does it have an extensive network of public transport around the city itself - including the iconic Underground - London also operates several major airports and even international train stations, meaning there is no limit to convenient options for travellers, no matter their origin.  

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Prices

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Following the pandemic, and considering the recent political landscape, the confidence in the London property market has wavered. Nevertheless, when comparing average house price figures from 2019 with those of 2023, we see an overall increase of 4.97% - a high return on investment over just four years.

2. The Cotswolds

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Emerald green landscapes, charming villages, and an all together slower pace of life. Investing in a second home in the Cotswolds offers owners a tranquil retreat in the heart of the rural British countryside, making it perfect for those seeking relaxation. While oozing off-the-grid appeal, charming villages such as Bourton-on-the-Water, Chipping Norton and Stow-on-the-Wold offer all the amenities - think farm shops and world-class restaurants - you could need, and what’s more, they’re all just over an hour’s drive from the capital.

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Accessibility

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While it might not have its own airport, international flights are available to Birmingham, Bristol, Cardiff and London Heathrow, which are all within two hour’s drive. The area also has a handful of local train stations with direct links into London taking just under an hour. 

Prices

According to reports by the Land Registry, house prices in the Cotswolds have demonstrated consistent growth since 2019 with the average price of a property in the area rising from £375,846 in June 2019 to £494,572 by February 2023​. This steady rise indicates strong potential of return on investment for potential second homeowners. 

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3. Dorset 

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Investing in a holiday home in Dorset is well suited to those seeking both a country and coastal retreat. A little further from the UK’s major cities, it offers sanctuary from the pace of urban life on England’s peaceful south coast - a tapestry of quaint fishing villages, golden beaches and rolling hillsides. For those with a love of the great outdoors, it is also home to the Jurassic Coast, a UNESCO-protected stretch of coastline spanning 95 miles and waiting to be explored. 

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Accessibility

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As a county, Dorset is well-served by major road networks, ensuring convenient travel from across the UK by car. From London, it can be reached in under three hours. For those preferring public transport, Dorset also boasts several local train stations with direct links to London. Additionally, the local airport, Bournemouth International, provides flights to numerous destinations across Europe, making it perfect for those wishing to connect to the continent. 

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Prices
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House prices in Dorset have shown consistent growth since 2019. According to the Land Registry, the average price of a property in the area increased from £315,672 in June 2019 to £426,815 by February 2023. Another steady rise, demonstrating solid investment potential. 

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While the UK’s property investment landscape can seem overwhelming at times, once you’ve chosen a location, everything else will begin to fall slowly into place. 

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London or the Cotswolds now at the top of your list? August offers unique fractional ownership opportunities in both of these desirable destinations, making it even easier for you to secure a second home by handling all the paperwork, maintenance and more. To find out about how you could soon become the proud owner of a holiday home in the UK with August, request a brochure here, and start your journey today.