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TODAY'S OTHER NEWS

Fighting Back - short lets and holiday homes do NOT hit affordability

Holiday lets and second homes in one hotspot in the UK have not, after all, impacted on house prices and affordability, a report has found.

For months there has been growing criticism of short lets, holiday lets and vacation properties for allegedly reducing housing stock and making it harder for young people in tourist locations to buy a home.

However, a report for the Liberal Democrat controlled North Norfolk council suggests otherwise according to a report from the BBC. 

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The local authority has the highest rate of second homes of any in England and Wales, outside of London. A tally in April showed the area had some 7,169 second and holiday homes.

However, the council report says there is "no clear evidence that high numbers of holiday and second homes effects house prices and affordability" and spokesperson Councillor Liz Withington says blanket restrictions on second ownership - like in St Ives, Cornwall, and some other locations - could have unintended consequences.

"A blanket ban stresses other areas such as employment, wage levels and house prices in other areas of the housing market that haven't previously been affected" she is quoted as saying.

She backs instead a government proposal which could allow council tax to be doubled on second homes.

The report will go before the council's decision-making overview and scrutiny committee this week, which is expected to make a series of recommendations to find a balance between business and local housing needs.

Proposals include looking at how both council tax and planning restrictions could helps alleviate problems caused by a high concentration of second homes and holiday lets on the Broads and in coastal areas.

  • Billy the Fish

    So by that date all BTL properties sold over the last year have also not affected affordability for renters. Hmm…

  • Neil Moores

    What a load of nonsense. Demand and supply. If all of those holiday and second home properties were available as family “main” homes are we supposed to believe that this would not have an impact?

  • icon

    Depends on the demand in that area. It might look great for a holiday, but have poor amenities and job prospects. They are obviously after extra taxes.

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