Friday, 24 December 2010
UK House Prices - Property prices in Cornwall are up 169 percent
It is just another case of UK house prices being bid up by outsiders. People from the South West often complain that wealthy outsiders, especially from London, come into the area and bid up the property prices. The consequences are stark for low and middle income families who can no longer afford to own a house in their own neighbourhoods.
House price data from Cornwall seem to support the accusation. Since 2000, house prices in Cornwall have increased by 169 percent, far outstripping local incomes. Prices came down slightly with post-financial crisis correction. However, prices began to rise again in 2010.
Personally, I think Londoners should only buy houses in London. If they want to go there for a holiday, then they should stay in a bed and breakfast. Leave Cornwal alone.