The Daily Telegraph has suggested that the government is considering a policy of capping prices on properties in the countryside to ensure they remain affordable to the local residents. A group overseen by the Cabinet Secretary Sir Jeremy Heywood, has come to this decision a result of prices being increased by people buying second homes while local wages remain rather low.
A document put to the group claims that the shortage of affordable housing in the countryside will continue to be a “prominent issue” in future.
The Daily Telegraph states “Ideas of what a future rural scenario could look like were discussed, including the idea for mandating ‘affordability’ of property in perpetuity to ensure the property doesn’t get sold on for a higher price and therefore adding to the pressure of providing more affordable housing.”
The fear made apparent by the National Housing Federation, is that families that grew up in rural areas are being priced out and that the properties within those areas will predominantly be owned by elder local residents. These areas include Malvern Hills, Ryedale, the Derbyshire Dales, East and West Devon, the Cotswold district, the New Forest and North Norfolk.
West Somerset had the highest projected proportion of pensioner households by 2021, with 47% of households expected to be owned by people over the age of 65.
Read the full Telegraph article here