The number of towns and cities in England and Wales experiencing a decline in sales of typical ’second stepper’ properties has risen to its highest level since 2009, according to new research by Lloyds TSB.
In the first seven months of 2012, 374 (or 65%) out of the 577 towns and cities across England and Wales covered in the survey recorded an annual fall in sales of second stepper homes. This is the highest total for three years, a rise of 2.2% compared with the same period in 2011 (366).
Greater London (79%) has the highest proportion of areas that recorded a fall, followed by the north of England (73%) and the North West (70%).
Nine of the 10 areas that recorded the biggest falls in second stepper sales in 2012 are in the south of England. Torpoint in Cornwall recorded the biggest fall (-51.7%), followed by Kings Langley (-51.6%) and Chertsey (-51.2%). Outside southern England, Cottingham in Yorkshire recorded the biggest decrease (-46.4%).
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