Table of Contents
Issues in the Market
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- Key issues
- Definition
- Abbreviations
Future Opportunities
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- The realest of holidays
- Virtues of transience
Market in Brief
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- Consumer interest revived by bargain hunting...
- ...but caution is the watchword
- Tried and trusted
- Keep it in the family
- Local flavour
- Window of opportunity
- Selling a lifestyle
Internal Market Environment – Property
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- Key points
- Downward price pressure continues
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- Figure 1: Composition of UK household sector’s net worth, 2000-09
- Figure 2: Average house prices in the UK, by region, 2005-10
- Return to cash/savings?
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- Figure 3: Method of funding of holiday home purchase, by length of ownership, November 2009
- Under pressure
- Green shoots of recovery...
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- Figure 4: International property price movements, Q3 2009 and Q3 2010
- ...but bottom not yet reached in key markets
- Holiday lettings tax changes
Internal Market Environment – Holidays
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- Key points
- High priority but challenging conditions remain
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- Figure 5: Expenditure priorities, 2005-10
- Figure 6: Overseas holidays, expenditure and average cost, 2005-10
- End of the staycation?
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- Figure 7: Domestic holidays and expenditure, 2005-10
- Frequent travellers
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- Figure 8: Percentage of adults booking UK and overseas holidays, 2010
- Spain still accounts for quarter of holidays abroad
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- Figure 9: Outbound holiday visits, by country visited, 2005-09
- LCCs still growing through downturn
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- Figure 10: Scheduled passengers carried, by main low-cost airlines, 2005-10
- Network expansions continue
- Aviation alternatives for property owners
Broader Market Environment
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- Key points
- Consumer spend to remain subdued
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- Figure 11: GDP, PDI, consumer expenditure and savings, at current prices, 2005-15
- Rate rises expected
- Squeezed middle
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- Figure 12: UK consumer confidence index, January-December 2010
- AB growth is a plus for property abroad
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- Figure 13: Forecast adult population trends, by socio-economic group, 2005-15
- A family affair
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- Figure 14: Forecast adult population trends, by lifestage, 2005-15
- Retirement dreamers
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- Figure 15: Influencing factors in initial holiday home purchase, by length of ownership, November 2009
- Pound recovers partially
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- Figure 16: Annual average exchange rates for Sterling, 2005-10
Competitive Context
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- Key points
- One in 14 holiday in their own property
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- Figure 17: Type of accommodation used on all holidays/short breaks taken in the last 12 months, 2010
- Six in ten second homes are overseas
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- Figure 18: Households in England with a second home – domestic and abroad, 1998/99-2007/08
Strengths and Weaknesses in the Market
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- Strengths
- Consumer interest returning
- Positive associations
- AB growth forecast
- Love affair with Spain and France
- Budget airline resilience
- Weaknesses
- Macroeconomic risks
- Key drivers of expansion have ended
- End of the dream for many?
- Rip-off/legal fears widespread
- Timeshare distrusted/ fractional yet to break through
- Key points
- Property apps
- Promoting hot property
- Selling rental potential
- Selling a ready-made social life
- Holiday home exchange
Market Size
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- Key points
- Decade of property mania comes to an end...
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- Figure 19: Households in England with a second home abroad, 1997/98-2007/08
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- Figure 20: Number of second homes abroad owned by households in England, 2008/09-2009/10
- ...but consumer interest reviving
Segment Performance
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- Key points
- France and Spain account for half of homes
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- Figure 21: Number of second homes abroad owned by households in England, by destination, 2008/09
- Top five destinations take over
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- Figure 22: Search activity on Primelocation International site split, by location, November 2007-October 2010
- Interest in Spain more resilient than France
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- Figure 23: Percentage change in search activity on Rightmove Overseas site, by location, July 2008-July 2010
- Characteristics of the leading markets
- Spain
- France
- Portugal
- Italy
- US
Companies and Products
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- British Homes Group
- Fractional Life
- GK Italian Property
- Holidaylettings.co.uk
- Homesoverseas.co.uk
- Interval International
- Primelocation International
- Property-abroad.com
- RCI
- Rightmove.co.uk (Overseas)
Property Ownership and Aspirations
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- Key points
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- Figure 24: Holiday property abroad ownership and aspirations, November 2010
- A third of consumers show interest
- The fractional moment?
- Dreams of escape
- Networked nomads
What People Think About Property Abroad
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- Key points
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- Figure 25: Attitudes towards holiday properties abroad, November 2010
- Figure 26: Attitudes towards holiday properties abroad – users v potentials, November 2010
- Negative attitudes
- Consumers get nervous
- Maintenance hassles
- Promoting holiday variety
- Timeshare mistrust
- Positive attitudes
- Family and friends
- Deep holidays
- Money matters
- Window shoppers
Dream Holiday Home Destinations
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- Key points
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- Figure 27: Preferred holiday home destinations, November 2010
- Spain still tops but US gains on France
- The most affluent prefer France to Spain
Dream Holiday Home Factors
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- Key points
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- Figure 28: Important factors for choosing a holiday home, November 2010
- Sun and sea
- Rentability most important for US
- Traditional properties most popular
- Feeling like a local
- City to city
- A fifth seek lifestyle facilities
Targeting Opportunities
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- Key points
- Target groups
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- Figure 29: Holiday property abroad target groups, November 2010
- Serious Potentials
- Demographic profile
- Marketing message
- Pipe Dreamers
- Demographic profile
- Marketing message
- Lukewarm
- Demographic profile
- Marketing message
- Out of the Question
- Demographic profile
- Marketing message
Appendix – Property Ownership and Aspirations
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- Figure 30: Most popular statements on holiday property abroad ownership and aspirations, by demographics, November 2010
- Figure 31: Next most popular statements on holiday property abroad ownership and aspirations, by demographics, November 2010
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Appendix – What People Think About Property Abroad
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- Figure 32: Attitudes toward holiday properties abroad, by demographics, November 2010
- Figure 33: Further attitudes toward holiday properties abroad, by demographics, November 2010
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- Figure 34: Other attitudes toward holiday properties abroad, by demographics, November 2010
- Figure 35: Additional attitudes toward holiday properties abroad, by demographics, November 2010
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- Figure 36: Attitudes towards holiday properties abroad, by most popular statements on holiday property abroad ownership and aspirations, November 2010
- Figure 37: Attitudes towards holiday properties abroad, by next most popular statements on holiday property abroad ownership and aspirations, November 2010
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Appendix – Dream Holiday Home Destinations
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- Figure 38: First preference holiday home destinations, by demographics, November 2010
- Figure 39: Preferred holiday home destinations, by most popular statements on holiday property abroad ownership and aspirations, November 2010
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- Figure 40: Preferred holiday home destinations, by next most popular statements on holiday property abroad ownership and aspirations, November 2010
- Figure 41: Preferred holiday home destinations, by most popular attitudes towards holiday properties abroad, November 2010
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- Figure 42: Preferred holiday home destinations, by next most popular attitudes towards holiday properties abroad, November 2010
- Figure 43: Preferred holiday home destinations, by other attitudes towards holiday properties abroad, November 2010
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Appendix – Dream Holiday Home Factors
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- Figure 44: Most important factors for choosing a holiday home, by demographics, November 2010
- Figure 45: Next most important factors for choosing a holiday home, by demographics, November 2010
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- Figure 46: Other important factors for choosing a holiday home, by demographics, November 2010
- Figure 47: Important factors for choosing a holiday home, by most popular statements on holiday property abroad ownership and aspirations, November 2010
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- Figure 48: Important factors for choosing a holiday home, by next most popular statements on holiday property abroad ownership and aspirations, November 2010
- Figure 49: Important factors for choosing a holiday home, by most popular attitudes toward holiday properties abroad, November 2010
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- Figure 50: Important factors for choosing a holiday home, by next most popular attitudes toward holiday properties abroad, November 2010
- Figure 51: Important factors for choosing a holiday home, by other attitudes toward holiday properties abroad, November 2010
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Appendix – Targeting Opportunities
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- Figure 52: Attitudes towards holiday properties abroad, by target groups, November 2010
- Figure 53: Holiday property abroad ownership and aspirations, by target groups, November 2010
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- Figure 54: Preferred holiday home destinations, by target groups, November 2010
- Figure 55: Important factors for choosing a holiday home, by target groups, November 2010
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- Figure 56: Target groups, by demographics, November 2010
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