Rise in second homes bought in North Somerset

PUBLISHED: 06:34 15 October 2018


The number of second homes being bought in North Somerset is on the up – despite an increase in tax.

Stamp duty hikes aimed to open up the housing market, but almost one in every five homes sold last year in the area were to people who already had another property.

Figures, released this week by the HMRC, show £229million was spent on second homes in North Somerset in 2017-18.

The statistics come as several campaign groups call for developers to build smaller homes or bungalows to encourage first-time buyers or people to downsize, instead of large family homes.

Last year 19 per cent – which is approximately 900 – of the properties sold in North Somerset were classified as second homes, despite an extra three per cent stamp duty charge on additional properties in April 2016.

However, 12 months previously, 770 second homes were purchased.

In Congresbury, villagers have called for more affordable housing to be built in a forthcoming development off Smallway.

And at nearby Cobthorn Way, plans are being altered to create family homes, rather than bungalows, despite villager Marion Johnson’s assertion the latter are needed ‘urgently’.

The National Housing Federation is concerned about the impact of people buying second homes.

Policy leader Will Jeffwitz said: “In any community, if more homes are bought up as second homes then there are fewer available for residents – and 
the houses left are more unaffordable.

“If families and young people are priced out of their communities it can have a hugely demanding impact on community life – with village shops, schools and pubs closing in alarming numbers.”

Lawrence Bowles, research analyst at Savills, said first-time buyers are still at a ‘fundamental disadvantage’.

He said: “First-time buyers will typically be buying with a mortgage, and buy-to-let landlords will often have the money in their account, ready to go.

“Sellers prefer that over mortgages because of the certainty – there’s always a risk associated with a mortgage.”

Around £31million was collected from stamp duty in North Somerset last year, of which about a third came from people buying another home.

A spokesman for the Treasury has said the Government’s priority is to ‘support first-time buyers’.

More from Weston Mercury

The English National Ballet will bring its Swan Lake performance to the West Country – and the Mercury is giving readers a chance to win tickets to see the show.

Read more

An East Brent play park will receive a five-figure upgrade to improve facilities for children in the village.

Read more

The collected 30 something’s were partying like it was 2002 at Bristol’s SWX on Friday as post punk rockers A returned to Bristol to play the whole of their seminal album Hi-Fi Serious.

Read more

More than £200,000 has been spent by North Somerset Council on redundancy payments in 18 months.

Read more

The plan to join up a walking and cycling route from Brean to Clevedon has moved a step closer.

Read more

Venture into the wizarding world with the latest remake of one of J K Rowling’s books.

Read more

A woman who has vowed to complete 40 outdoor swims in her 40th year is just three challenges away from hitting her target.

Read more
Yesterday, 17:37

Homemade crafts and items were sold in aid of one of Weston’s best-loved sites.

Read more
Yesterday, 17:00

A determined Weston woman has completed a gruelling seven-month swimming challenge to raise money for Weston Hospicecare in memory of her partner’s mum.

Read more
Weston Hospicecare Weston-super-Mare
Yesterday, 16:00

The fun and fervour of this year’s carnival may only just have begun to die down, but 50 years ago attention focussed on bringing the event back to Weston’s streets.

Read more

Most Read News

Read Online

Read the Weston Worle and Somerset Mercury e-edition E-edition

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 10°C

min temp: 4°C

Useful Links

Advertise in the paper
Submit a Story
Subscribe to the paper
Send Your Letters
Order Photos
Family notices
Reader Travel

Family Notices 24

Newsletter Sign Up

Weston Mercury twice-weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

Show Job Lists