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Second-Home Owners ‘Unable To Get On Third-Home Ladder’

monopoly houseA shortfall in housing is pricing out many potential first-time third-home buyers.

The decline in the supply of affordable mansions and a sharp rise in the viewing figures for Escape to the Country have combined to create a ‘perfect storm’ in the market for multiple dwellings.

The chairman of the Third Home Ownership Foundation (Thof), Stephen Fish, told in an interview with The Taxman that the looming crisis in property accumulation was now so severe that struggling second-home owners were being forced to actually let out one or other of their properties to skilled professionals, or in some cases, even semi-skilled.

“We’ve got thousands of second-home owners out there just desperate to buy their third home, and subsequently their fourth, fifth, sixth, seventh and so on until they can afford their first out-of-town retail park.

“But because of a lack of desire from government to build more mansions or introduce financial incentives to encourage large families to ritually slaughter their children, second-home owners are being completely frozen out.

“Personally, I blame immigrants.”

Mr Fish said the government should reduce further or even abolish entirely the council tax second-home owners have to pay on their holiday cottages, plus introduce a new levy on people who only own one home, “to punish them for struggling with their mortgage”.

Such a move, the Thof chief told us, could provide the catalyst needed to kick-start the third-home market and narrow the gap between the have-a-lots and the only-have-a-fews.

“Quite frankly,” he continued, “I think it’s a disgrace that so many homes in this country today are being occupied seven days a week, 365 days a year, because there just isn’t the supply we need of nine-bed detached gated homes in places like the Cotswolds or the bits of the Chilterns that won’t be ruined by HS2.

“At the moment we have this tragic situation where decent middle-class people are being forced to give up on their dream of owning several homes that are each manifestly bigger than what they need, and are instead making do with properties that would barely be big enough for my collection of stag heads.”


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