Just a thought on the thorny subject of second homes, a few MPs have had their knuckles rapped over being in another home rather than their main residence. Having other properties for rental is another subject completely, it's the rarely used second home that really concerns me, this is not a socialist rant, if you have earned a few quid, fair play. I'm sure there's a few forum members with several properties, no issue with that, It's the damage to communities that is the real concern, turning whole areas of the country into ghost towns outside of the holiday periods, local people driven out by increasing house prices, schools closing down with dwindling numbers, work for locals now seasonal, economies governed by holiday traffic. Spain was a classic case in the eighties, Rock in Cornwall another, Padstow, there's thousands of examples, just wondered what anyone thought.
I can remember the backlash in Wales over such second homes... https://en.wikipedia.org/wiki/Meibion_Glyndŵr
I remember it well. It hit Pembrokeshire and Carmarthenshire as well as north and mid wales. Personally, one home us enough for me and my brood. If I want to go somewhere else I will stay in a hotel/guest house/camp site . I honestly can’t understand the attraction of two sets of bills and being tied to two places when you can have one and go wherever you like (before now that is). Pays yer money and makes yer choice.
Agreed, I'm not sure of the wisdom of a housing shortage and empty properties, the government are looking to build 300,000 homes a year to try and solve this issue as a nationwide strategy, it's the Devons and Cornwalls that are dying a death.
Loads of acquaintances have bought flats to let out in addition to their homes. Cashing in on property price increases. I am in the camp that is hoping housing prices fall. Two daughters currently looking to leave home but can’t get enough mortgage despite healthy deposits. Home first, investment a secondary consideration has always been our rule.
I'm sort of ok with investment properties as long as they become decent landlords, as for getting kids onto the market it's a lottery, the deposits are ridiculous, a calming of the market may happen after this virus.
I don’t disagree with this but I do think it has gone out of balance in recent times. Rents costing more that the equivalent mortgage for the same property is simply bonkers and feeds greed.
I think the policy has to be wider than than one town and locals should get priority, if the neighbouring areas have a more relaxed approach the developers will set up there.
it may sound callous but in some respects i hope those that have capitalised for years from their ability to juggle funds, get multiple mortgages, over inflate house prices thus denying the young or average joe the ability to ever own a home, take a big crash back down to earth... i know some will argue that they have worked hard to get the "portfolio" of properties but in my mind thats just bullshit... certain things in life should not be about financial gain... home ownership is one of em.
Does that mean that I shouldn't take any profit on my large four bed house when I downsize for a two bed bungalow?
