The three per cent stamp duty additional properties surcharge is to blame for tumbling house prices in some of Britain’s holiday home hotspots.
That’s according to new research by the Halifax.
It identifies two of Britain’s most expensive holiday home locations as showing significant falls in house values in just one year.
At Salcombe in Devon’s South Hams, prices have fallen 8.2 per cent; at Sandbanks in Dorset, regarded by some as the UK's most expensive resort, prices are down 5.6 per cent.
This represents a fall of £52,000 for a typical Salcombe property while homes in Sandbanks now cost £37,000 less than last year.