Households and housing wealth in the UK second homes and buy to lets.

Data from the latest Wealth and Assets Survey provides an insight into the type and value of housing wealth in the UK. There are number of interesting tables but here lets look at the ownership of main residence and then the number of households with other properties.

 

Between the July 2008/June 2010 and April 2020 to March 2022, the total number of main residences rose by 2,266,000 (9.2%).  Much of this increase was amongst households who in the main were renting, up by 2,382,000 (30.6%).  The number of households who owned their property fell by 116,000 (-0.7%).  However within the owned sector the numbers owning outright increased by 1,241,000 (+16.2%) while those owning with a mortgage fell by 1,251,000 (-13.6%).  

 

In percentage terms, the share of owners fell by 7% from 69% to 67% with outright owners up by 2% and those with a mortgage down by 8%.  The share of households not owning rose by 7% from 31% to 38%.

 

[NB numbers are weighted from the survey and hence will be estimates rather than actual figures.]

 

Ownership of main residence
	July 2008 to June 2010	April 2020 to March 2022	Change Nos	%
Owned outright	7,672,000	8,913,000	1,241,000	16.2
Owned with mortgage	9,168,000	7,917,000	-1,251,000	-13.6
Owned	16,946,000	16,83,0000	-116,000	-0.7
Not owned (rent or rent free)	7,779000	10,161,000	2,382,000	30.6
Total	24,725,000	26,991,000	2,266,000	9.2
Owned outright	31	33	2
Owned with mortgage	37	29	-8
Owned	69	62	-7
Not owned (rent or rent free)	31	38	7
All Households	100	100

[Table 3.1]

 

Turning to other property owned by households, the data indicates that the number of second homes increased by 217,000, (+28.4%), from 763,000 to 980,000.  Buy to lets rose by 449,000 (49.9%), from 900,000 to 1,349,000’.   The number of households with Other buildings fell by 54,000 (-25.5%) while those with land fell by 2,000 (1%).  Land or property numbers fell by 18,200 (25.8%). 

 

	July 2008 to June 2010	April 2020 to March 2022	Change Nos	%
Second Homes	763,000	980,000	217,000	28.4
Buy-to-lets	900,000	1,349,000	449,000	49.9
Other buildings	212,000	158,000	-54,000	-25.5
Land in the UK	193,000	191,000	-2,000	-1.0
Land or property overseas	705,000	523,000	-18,2000	-25.8
All other property	2,494,000	2,930,000	436,000	17.5

[Table 3.2]

 

Other information

What other information do we have about second homes and buy to let properties?

 

The following extracts provide some details.

 

In 2021-22, there were 809,000 second homes owned by households in England, an increase of 13% or just under 100,000 homes on 2010-11.

 

[English Housing Survey, 2023]

 

In 2021, it was estimated that there were 172,545 dwellings in England and Wales that were second homes without usual residents on Census Day, 21 March 2021,

[Census 2021]

 

In February 2025, the number of buy-to-let companies in the UK reached a record high of 401,744, according to Simply Business. These companies hold approximately 680,000 rental properties.

[Simply Business, March 2025]

 

 

….source of data on short-term lettings in England, “one plausible estimate” is 257,000 properties in 2022.

[House of Commons, 2023]

 

As of 2024, 4.7 million buy-to-let properties are being rented in the UK, around 1 in every 5 households.[https://www.finder.com/uk/mortgages/buy-to-let-statisticsAnalysis conducted by finder.com]

 

Sources

Department for Levelling Up, Housing and Communities, (2023), English Housing Survey 2021 to 2022: second homes - fact sheet. 

https://www.gov.uk/government/statistics/english-housing-survey-2021-to-2022-second-homes-fact-sheet/english-housing-survey-2021-to-2022-second-homes-fact-sheet, 17th July 2023.

 

Finder. Com, Barber, S., (2025)

https://www.finder.com/uk/mortgages/buy-to-let-statisticsAnalysis conducted by finder.com

 

House of Commons, (2023),The Growth in Short-term lettings (England), Research Briefings, Cromarty, H. 19th May 2023.

 

English Housing Survey 2021 to 2022: second homes - fact sheet, Updated 17 July 2023, National statistics.

 

Office for National Statistics  (2023), Number of vacant and second homes, England and Wales: Census 2021, Statistical bulletin, 27th October 2023.

Office for National Statistics, (2025), Wealth in Great Britain - Property Wealth, Wealth and Assets Survey, 24 Jan 2025.

 

Simply Business, 25 March 2025, Number of buy-to-let companies hits record high.

 

U Switch, (2025), McDonald, J., Hamilton, L., UK buy-to-let landlord statistics 2024, 1st April 2025.  https://www.uswitch.com/mortgages/buy-to-let-statistics/buy-to-let-landlord-statistics/