Across England and Wales, there are over 140,000 second homes, with flats proving the most popular.

National Tax Revenue is forecast to be depleted by £172m this year as holiday home properties are still “flipped” into the Business Rates system.

Cliff Ward, holiday-let expert at Pikl Insurance looks at the moral implications of second home ownership and how you can responsibly manage your properties.

Stamp Duty data covering 2022/23 revealed that almost half of all residential purchases across Westminster were for second homes.

New research shows that there are 141,245 second homes currently found across the property market in England and Wales, with a combined value of £43.5bn.