Second Home Taxes Pay For Self Build First Time Buyer Homes

PADSTOW, UNITED KINGDOM - MARCH 20: Mike O'Boyle and his daughter 15-year-old Mickila, work on their self-build home in Rock, near Padstow on March 20 in Cornwall, United Kingdom. Their house is one of 12 detached bungalows being built on a self-build affordable housing scheme funded by a 544,000 GBP interest-free loan from North Cornwall District Council raised by the increase in second homes council tax. Under the scheme buyers, who are strictly selected, pay 50,000 GBP for the plot with foundations and a timber frame and will then complete the homes themselves. The demand for holiday homes in the area led to local people being priced out of the housing market and as many as half the homes in some areas are now second homes. (Photo by Matt Cardy/Getty Images)
PADSTOW, UNITED KINGDOM - MARCH 20: Mike O'Boyle and his daughter 15-year-old Mickila, work on their self-build home in Rock, near Padstow on March 20 in Cornwall, United Kingdom. Their house is one of 12 detached bungalows being built on a self-build affordable housing scheme funded by a 544,000 GBP interest-free loan from North Cornwall District Council raised by the increase in second homes council tax. Under the scheme buyers, who are strictly selected, pay 50,000 GBP for the plot with foundations and a timber frame and will then complete the homes themselves. The demand for holiday homes in the area led to local people being priced out of the housing market and as many as half the homes in some areas are now second homes. (Photo by Matt Cardy/Getty Images)
Second Home Taxes Pay For Self Build First Time Buyer Homes
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Credit:
Matt Cardy / Stringer
Editorial #:
80319774
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Getty Images News
Date created:
March 20, 2008
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