New build property for full time residents only

westernpromise

michaels wrote: »

So no new houses are built and the town remains an extremely attractive place for incomers so what hapens when one of the existing houses come up for sale? Almost certainly no 'locals' can afford it and it is bought by an incomer as a holiday home, and ponced up to an extent that a local will never be abel to afford it ever again.

Correct. As no new properties will be built again the only way for an incomer to get hold of one is to buy a second-hand property off someone who already has one. So the demand will move to those, meaning the beneficiaries will be existing owners.

It's patently, blatantly a NIMBY strategy.

Like crash trolls, these people are just soooooooo transparent. For all the pious bleating and the crocodile tears for the poor widdle wocal buyers / FTBs / nurses / whatever, what it's always about is they want the market interfered with to secure a personal economic advantage for themselves.

Generali

westernpromise wrote: »

Because if a developer has a choice of building in location A, where the houses have to be sold to locals for the lower of market value or £100k, or in location B where they go to the highest bidder, obviously the developer will build in B. In the first case he makes the lower of £100k or market value and in the second he makes market value. Given that there is finite capital and trade labour, everyone will do the same.

Land will cost more in A too because since existing properties aren't affected they'll inflate in consequence. Crashy's rent, however, will still be £100 a week.

I reckon the whole scheme is likely to be ultra vires anyway. What specific power does a council have to prevent sales to certain individuals?

But if there's still a profit to be made building in location A, someone will build there.

As to ultra vires, I suppose the council has taken legal advice and feels that this could simply become a part of the PP process. I have no doubt that someone will challenge it which will be an ideal time to find out if it is. Other areas seem to engage in selective sales that support locals over those wanting second homes:

Cheshire East is committed to helping local people secure their own homes who might not otherwise be able to afford a property at the full market value

http://www.cheshireeast.gov.uk/housing/affordable_housing/affordable_housing.aspx

antrobus

westernpromise wrote: »

Of course the other scam here, which presumably the greedy locals have in mind, is that they expect to be able to buy a place new at an artificially reduced price, then flog it on after a week at full value to a non-local, to whom the ban no longer applies because it's not a new home.....

That's not the way it works.

It works on the basis of a planning condition that requires the property to be occupied by a full time resident (as defined). Once that is applied, it always applies, much like an agricultural tie.

Plus, there is no local connection requirement when buying a new build. Non-locals will be just as free to purchase them as are locals; they simply have to live there.

westernpromise

Generali wrote: »

But if there's still a profit to be made building in location A, someone will build there.

No they won't. Not if there's more to be made elsewhere. Which there always will be, because other places don't fix the price at which the developer can sell.

You've got developer A, developer B and there are 100 builders in the area.

A is building in St Ives and so can afford to pay tradesman £100 a day. B is building elsewhere and can afford to pay £200 a day.

Where will the local builders all work?

duchy

I've seen some nice 4/5 bedroom developments hang around for months before selling. For a developer looking for a quick turnover I can see some benefit in building less expensive properties which will sell more quickly releasing capital for the developers next project.

antrobus

Generali wrote: »

...As to ultra vires, I suppose the council has taken legal advice and feels that this could simply become a part of the PP process. I have no doubt that someone will challenge it which will be an ideal time to find out if it is....

Councils appear perfectly capable of making agricultural occupancy a condition of planning permission. Plus of course, it's fairly common for it work the other way around, where planning permission is issued for holiday homes on the condition that they aren't occupied all year round.

Generali wrote: »

.... Other areas seem to engage in selective sales that support locals over those wanting second homes:
...

Affordable housing is something different.

What St Ives is proposing that all its new build housing is either (a) affordable housing or (b) open market housing subject to a principal residence requirement.

Generali

westernpromise wrote: »

No they won't. Not if there's more to be made elsewhere. Which there always will be, because other places don't fix the price at which the developer can sell.

You've got developer A, developer B and there are 100 builders in the area.

A is building in St Ives and so can afford to pay tradesman £100 a day. B is building elsewhere and can afford to pay £200 a day.

Where will the local builders all work?

Then I advertise in Haskovska Maritsa for Bulgarian builders.

The UK isn't a closed economy for labour. Just ask CLAPTON.

adr0ck

wouldn't a better option be to restrict the sale of existing properties?

In a similar manner to what australia does for foreign nationals

Generali

adr0ck wrote: »

wouldn't a better option be to restrict the sale of existing properties?

In a similar manner to what australia does for foreign nationals

Which rule do you mean?

From what I can see foreign nationals (like me) have no real problems buying property.

PasturesNew

wotsthat wrote: »

It's a cunning nimby plan to prevent building. When they drive out of St. Ives towards Carbis Bay and see some of the conversions of dilapidated buildings into fabulous holiday homes with amazing sea views they must be green wirh envy.

It's only people with those things that think others are "green with envy". The people assumed green are looking and thinking "what an ugly blot on the landscape, bet the arrogant tw4t that owns it's barely there more than 2-3 weekends a year".

They alter the view, the landscape, the character. It'll no longer "look like Cornwall" if it's full of bold shiny glass-walled £500-600k flats in blocks. Might as well go somewhere else, anywhere else, if everywhere looks the same.