New build property for full time residents only

vivatifosi

I've had one eye on this story for a while but have yet to see a thread here about it so thought I'd start one.

St Ives council has been considering a local ban on the sale of new builds developments as second homes. The Cornish town has a high proportion of second homes, with local residents unable to get on the housing ladder due to high prices and dearth of local well paid jobs.

This week, the motion was passed, with 83% of locals voting in favour. Those against the move say that fewer houses will be built, and that it will affect the local tourist economy.

The vote, which may be subject to legal challenge, has been closely followed by authorities with similar housing issues.

I wonder whether Sadiq will look at this for London.

https://next.ft.com/content/73470224-1351-11e6-839f-2922947098f0

http://www.dailymail.co.uk/news/article-3578516/Britain-braced-ban-second-homes-Councils-UK-set-outlaw-sale-holiday-cottages-elsewhere.html

http://www.theguardian.com/uk-news/2016/apr/03/st-ives-second-home-referendum-financial-cleansing

PasturesNew

It's a tricky balance. The town has increasingly become more unaffordable for locals and now, when there is an opportunity to develop, developers target the millionaire/London market and build ostentatious dwellings at silly high prices, that are then left empty most of the year.

If you were local ... and every house being built was only for millionaires ... and yet the streets were deserted much of the time and you were the only person living in your street, how'd you feel on a bleak January afternoon? Also you'd never be able to move house within your own town as new builds are built as palatial holiday homes and anything you fancied was snapped up by rich people to "posh up" and use 3x a year.

The argument is always that 2nd home owners "use local services and support the local economy", the reality is they turn up 3x a year with their Waitrose hampers from out of the county, they might have one meal at a posh restaurant, then they're off again.

CLAPTON

PasturesNew wrote: »

It's a tricky balance. The town has increasingly become more unaffordable for locals and now, when there is an opportunity to develop, developers target the millionaire/London market and build ostentatious dwellings at silly high prices, that are then left empty most of the year.

If you were local ... and every house being built was only for millionaires ... and yet the streets were deserted much of the time and you were the only person living in your street, how'd you feel on a bleak January afternoon? Also you'd never be able to move house within your own town as new builds are built as palatial holiday homes and anything you fancied was snapped up by rich people to "posh up" and use 3x a year.

The argument is always that 2nd home owners "use local services and support the local economy", the reality is they turn up 3x a year with their Waitrose hampers from out of the county, they might have one meal at a posh restaurant, then they're off again.

yes there is a case for anywhere with high unaffordable prices to introduce a similar ban

best place to start is London where people born there can't afford nice houses, so all new ones should be restricted to native born Londoners.

vivatifosi

Responding to PN...


It is a difficult balance. From a couple of articles, it is affecting the rental market too... those seeking rental properties find that those with properties to rent would rather rent them out across the summer and leave them empty across the winter, as they can make more money than from a year round rental to locals.

I think it is an interesting experiment that should be allowed for a couple of years to see what the impact is.

vivatifosi

CLAPTON wrote: »

yes there is a case for anywhere with high unaffordable prices to introduce a similar ban

best place to start is London where people born there can't afford nice houses, so all new ones should be restricted to native born Londoners.

So it's ok for people from London to push up house prices in Herts, but not ok for people from Herts to buy a place in London?

CLAPTON

vivatifosi wrote: »

So it's ok for people from London to push up house prices in Herts, but not ok for people from Herts to buy a place in London?

no, to be fair to all, I am suggesting that the rule should be applied to everywhere that has any sign of unaffordable housing.

michaels

Lets look at the economic success of the welsh valleys to see how well small local economies do without any money incoming?

Or consider, will any houses be built at prices locals can afford - if the answer is no then it is a bit of a phyric victory, no new houses for incomers...but no new houses at all.

So the only way a local might be able to buy is by selling their existing home for a premium price, and who will pay that premium price? Only a second home owner of course so although the new property goes to a local there is still jo net addition to the local housing stock.

Rinoa

Logic suggests that if people want a second home in St Ives they will buy whatever is available. If they can't buy new homes they will buy from the existing housing stock and push prices up that way. Meanwhile landowners won't be tempted to sell their land if they can't command a sufficiently high price, leading to a reduction in new builds. Can't see how any of that would help locals.

I see 83% of locals voted in favour. I wonder how many of those, when loved ones died, were willing to sell their house to locals rather than to rich Londoners.

CLAPTON

one wonders what the legal definition of a 'second home' owner in st ives is?
and who was allowed to vote?
normally council tax payers get a vote where their property is irrespective of whether they have one of multiple homes elsewhere

I guess any one owning a holiday home there, voted in favour as this must increase the value of their own property.

Generali

I wonder if there's any topic that CLAPTON couldn't turn to a rant about immigration.

Interested in a Yorkshire pudding recipe? Migrants pushing up the price of eggs making yorkies unaffordable.

Want directions from Manchester to Lille? Better watch for those immigrants clogging up the roads.

Fancy a pint CLAPTON? Nah. Too many immigrants at the bar so I'll have to wait too long. Think I'll head off.

See the match last night CLAPTON? Tried to watch MoTD but I couldn't get enough bandwidth for it to stream properly because immigrants.

Say 'Hi' to the family from me CLAPTON. "Sorry, they can't hear me speak over the shouting of immigrants".

CLAPTON

Generali wrote: »

I wonder if there's any topic that CLAPTON couldn't turn to a rant about immigration.

Interested in a Yorkshire pudding recipe? Migrants pushing up the price of eggs making yorkies unaffordable.

Want directions from Manchester to Lille? Better watch for those immigrants clogging up the roads.

Fancy a pint CLAPTON? Nah. Too many immigrants at the bar so I'll have to wait too long. Think I'll head off.

See the match last night CLAPTON? Tried to watch MoTD but I couldn't get enough bandwidth for it to stream properly because immigrants.

Say 'Hi' to the family from me CLAPTON. "Sorry, they can't hear me speak over the shouting of immigrants".

the actual topic is quite an interesting economic issue.