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Do property market restrictions work as a means of protecting local buyers?

N

nmb

Well-Known Member
A number of local authorities in the UK are now looking at introducing planning restrictions on new builds to ensure that only those reserved for local buyers will receive approval. Is this a step forward in helping first-time buyers? Or will restrictions force investors to look elsewhere to markets using a “free market policy”?
 
L

lookinginvest

Member
It is a very controversial move to introduce restrictions on who can buy new builds properties and goes firmly against the principle of a "free market". Is there really anything to be gained in the longer term from introducing such restrictions?
 
N

nmb

Well-Known Member
In many ways this does seem a step too far and some councils may regret this when property prices are struggling in the future. Who will they be able to call upon to support local prices then?
 
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