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Do second home owners get a raw deal?

  • Thread starter Nicholas Wallwork
  • Start date
Nicholas Wallwork

Nicholas Wallwork

Editor-in-Chief
Staff member
Premium Member
The move by Cornwall Council to ensure that all newbuilds in St Ives are bought by full-time local residents has brought the second home market under the spotlight yet again. The move by the council, which would see planning permission refused for newbuilds not reserved by local buyers, will likely be challenged in the courts

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L

lookinginvest

Member
Funny how nobody complains when second home buyers are supporting the market in troubled times? People only ever seem to complain when markets are recovering and prices are moving higher.
 
N

nmb

Well-Known Member
Once you start restricting access to local property markets where does it all end? Surely it is either a free market, using free market principles, or not?
 
L

lookinginvest

Member
There are potential long-term implications here which I believe many of the UK councils have failed to spot. If they cut off this investment channel what will they do in times of trouble? Who will support local property markets and local property prices?
 
N

nmb

Well-Known Member
Unfortunately you cannot turn-on and turn-off the investment tap as and when you need it - therefore many councils across the UK may rue the day they restricted investment in local property.
 
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