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Guardian: Cornwall Shows Biggest Price Leap Over 10 Years

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More of the net results of this weekends spin, this one has a sting in the tail though.

http://business.guardian.co.uk/story/0,,1753674,00.html

How surf, seafood and second-home buyers created a property hotspot

· Cornwall shows biggest price leap over 10 years

· MP says it is a 'disaster for local people'

The Eden Project, the Tate St Ives, Rick Stein and Newquay surfers have made Cornwall cool - and turned it into the hottest property market of the past decade, according to a Halifax survey of Britain's counties published today.

Average house prices in Cornwall have almost quadrupled in the past 10 years, from £53,000 to £195,000, outstripping any other county or unitary authority in Britain, said Halifax. Meanwhile Britain's county with the lowest property price growth has been Aberdeenshire, where house prices started 1996 substantially above Cornwall's at £70,000, but are now well below it at £141,000.

....

Andrew George, Liberal Democrat MP for West Cornwall, described the house price rises over the past decade as a "disaster" for the local community.

"Every year thousands of constituents come to my office to complain they have no hope of getting on the property ladder. Cornwall always comes bottom of every survey of earnings and has the lowest income per head figures, and yet local people face some of the highest prices in the country. It is nothing short of a disaster for local people."

He said the prices have been driven up by the influx of second-home buyers and those retiring to the area.

"A year ago I did a local survey and found that agents were twice as likely to be selling the homes on their books to buyers who already had a first home. Local people earning local wages have no hope of being able to afford a property - not unless a rich aunt dies or they win the lottery."

He said that the local housing problems are exacerbated by the fact that there is now very little affordable housing for rent in the region.

"Homeowners now prefer to chase high holiday rents rather than going for a long-term let with a local couple," Mr George said. "You can't blame them, but it creates real problems for those looking for basic housing."

...

Refreshing stuff from the local MP at least...

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Continued HPI and consequential MEW is essential for the survival of Gordon "Miracle Economy" Brown and, more importantly, the entire NuLabour party which is proud to have increased the notional wealth of so many.

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It would be so great if young people in the Westcountry got together and organised squats en masse. It's hellish. Wealthy people move down there when they retire and spend their last decades putting nothing into the local economy but draining state funds and having low-paid services provided for them by locals. It's a kind of financial apartheid. Seriously, if they squatted they'd have a massive amount of support. I wonder if they would be able to find people down there who would be willing to execute evictions against them. They'd probably need to draft people in from outside. Young people down there put up with far too much - I grew up there from the age of 10 and my M&D still live there so I know whereof I speak. The whole place has become some kind of awful theme-park for the rich - as usual, in need of a bit of a slap, if you ask me. Go on young Westcountriers, sock it to them!

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I know how they feel. I come from Cornwall and had to leave because I just couldn't find work and afford to live there any more. I miss it so much not to mention my family.

Of course what will happen long term is that all these so called 'key workers' i.e. ambulabce men, teachers etc. are priced out and then the property prices drop because nobody can get the care as they get old. Social consequences of HPI.

Edited by SCUMBAG

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Of course what will happen long term is that all these so called 'key workers' i.e. ambulabce men, teachers etc. are priced out and then the property prices drop because nobody can get the care as they get old. Social consequences of HPI.

No cos nulabor will keep its wealthy voters' servants available by conning them into rubbish shared ownership schemes that keep them in debt bondage for the rest of their days - instead of letting the market operate as it's meant to.

If I were you and I wanted to live down there I'd get together with some mates and sqat. You'd be living where you want to and you'd be local heroes. There's a squat up in Highgate that the locals are really in favour of and that would make people's attitude towards you positive, too - much better to have nice idealistic young people squatting in your village and being part of the community than shitty banker's pet second home empty 48 weeks of the year.

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It is difficult in Cornwall not only for FTB's but people at all levels

We moved back here in 2004 (after working up country for 25 years) to be close to, and look after mother who is in her 80's

We are in a reasonable position ie have quite a lot of equity but just cannot compete with the speculators or retirers for the nice property - we cant earn enough down here to mortgage to the hilt - all of the property we have seen is either too expensive or bought by the Horsey fraternity for megabucks

EA's seem to revel in the fact that they sell houses to rich people form London and the home counties - they call themselves local agents but are prepared to sell their souls to the highest bidder

If Andrew George is that concerned he should expose Crash Gordon and the spin about prices -I think I'll e-mail him

CS

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i go to cornwall every may and as nice as it is i could never live there....too far from major urban centres to have much well paid work and the weather can be quite dreek even in summer...if i could somehow gwt a government job there (well paid compared to the alternatives) i 'd still stay here as my children would have limited prospects there...The economy seems to revolve around government jobs and all the people who come rocketing down the M5 every summer..................

Edited by Michael

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i go to cornwall every may and as nice as it is i could never live there....too far from major urban centres to have much well paid work and the weather can be quite dreek even in summer...if i could somehow gwt a government job there (well paid compared to the alternatives) i 'd still stay here as my children would have limited prospects there...The economy seems to revolve around government jobs and all the people who come rocketing down the M5 every summer..................

I think you'll find there is much more private enterprise in Cornwall than you think

I haven't got any statistics to back it up but I'd bet £100 immediately that there were many more governement paid jobs in London and the big cities per head of population than in Cornwall

As far as prospects for children are concerned is it safe for your kids to play out without supervision where you live, can you walk on the beach every day and go surfing whenever you want,look into the sky at night and see the stars. IMHO the quality of life down here is much better especially for kids

As for jobs - you create your own

CS

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" Mr George said. "You can't blame them, but it creates real problems for those looking for basic housing."

he means homes like......council ones that cant be bought or sold or sub-letted as holiday homes for profit.

...shhhh...dont mention council houses...

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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