Court bans second home buyers purchasing new builds in tourist hot spot.
St Ives in Cornwall has banned the sale of new homes to second home owners. This week the decision was backed by the High Court.
Although we are some way away from such a ban in this area there is an interesting restriction placed on ex local authority properties in some parts of Norfolk. For example North Norfolk district council place restrictive covenants on their properties when they are sold under the right to buy scheme. Under this scheme only people who have lived in Norfolk for the proceeding three years can occupy these ex local authority properties meaning they are unlikely to be used as second or holiday homes.
One wonders whether a St Ives style ban may creep in to the holiday hot spots of North Norfolk. Watch this space.