Sunday, November 4, 2012
Obviously no shortage of cash buyers
With a sea view along a palm tree-lined road in the heart of a Cornish resort, an asking price of Â£50,000 seems like a bargain â€“ until you realise that it is just for the parking. Five car spaces in the much-sought after St Ives have gone on sale for a staggering Â£50,000 each â€“ more than double the average wage in Cornwall. But the sale has sparked anger among local residents who say they are being priced out of buying homes and land because the value is being forced up by out of towners. One local councillor said it â€œsticks in the throatâ€ and is creating a divide between locals on low wages and wealthy second home owners. The sale of the five parking spaces, which are just a 30 seconds walk from the town centre, comes just three months after another space sold for Â£55,000.