House swapping on the rise as holidaymakers save money

Harry Wallop, Consumer Affairs editor at The Telegraph writes about the sharp rise in holidaymakers undertaking home exchanges:

Instead of spending money on hiring a villa or holiday cottage, more and more families are prepared to allow swap their homes with families overseas in an attempt to cut down on their bills.

An estimated 1.6 million people are on course to arrange a house swap this year, double the number that did it last year, according to a survey undertaken for Lloyds TSB Insurance.

The recession has caused a radical shift in how families go on holiday, with the rise of the so-called staycation – holidays in Britain, many of them under canvas.

Now, it would appear, people are prepared to undertake the hassle of letting a group of strangers stay in their home and use their car in return for staying for free on the other side of the world.

The survey suggested that 3.4 per cent of adults – twice the number a year ago – have already arranged a house swap in 2011, with Cornwall, the Lake District, Devon and Scotland among the most popular exchange destinations. Read the full article here.