Property divide widens in Devon as second homes soar

The number of second homes in Devon has continued to rise, with the county remaining one of the most popular places for people to own an extra house. There are a total of 13,158 second homes across our county according to the latest government figures.

That’s an increase of 855 compared to 2023 and means that one in every 35 Devon dwellings is a second home. Second homes are properties that are unlived in, but are fully furnished.

They can include holiday lets like AirBnBs, as well as “buy-to-leave” properties, which are purchased as investments that are left unoccupied in the expectation that their value will rise. Second homes take up a larger share of the housing stock in some areas far more than in others though.

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South Hams now has an extra 123 second homes compared to last year, with the total in the area now standing at 4,145. One in every 11 dwellings in the local authority is a second home, which is the fourth highest ratio in the country after the City of London (one in every four), North Norfolk (one in every 10) and the Isles of Scilly (also one in every 10).

Three other council areas are in the top 15 in the country when it comes to the proportion of housing being made up of second homes. North Devon has a total of 2,190 second homes, up by 19.4% compared to last year. One in every 22 dwellings there is now a second home.

Torridge has a total of 1,395 second homes, up 15.0%, which works out as one in every 25 dwellings. East Devon has 2,816 second homes, up by just 2.0%, with one in every 27 dwellings now a second home.

The national average is one in every 92 houses. In West Devon, one in every 39 dwellings is a second home. In Plymouth it’s one in every 109, in Exeter it’s one in every 111, and in Mid Devon it’s one in every 166.

A spokesperson from the Ministry of Housing, Communities and Local Government said: “We understand the frustration in areas where large numbers of properties are used as second homes and we are determined to tackle this issue. That’s why we are taking decisive action to protect communities by giving councils powers to charge a council tax premium on second homes and increasing Stamp Duty for those buying additional properties.”

The Government has provided councils with the discretionary power to charge a council tax premium of up to 100% on second homes from next April. The premium is not a mandatory requirement, it is for councils to decide whether to charge the premium and at what rate.

The government has also announced an increase to the higher rates of Stamp Duty Land Tax on additional dwellings in the Autumn Budget. This is designed to give an advantage to people buying a home to live in an advantage over those purchasing additional property.