PADSTOW, UNITED KINGDOM - MARCH 20: Houses look over the harbour on March 20, 2008 in Padstow in Cornwall, United Kingdom. Due to the massive increase in the number of second homes and huge price increases, in nearby Rock, 12 detached bungalows are 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. Getty Images logo Getty Images 20 months ago

PADSTOW, UNITED KINGDOM - MARCH 20: Houses look over the harbour on March 20, 2008 in Padstow in Cornwall, United Kingdom. Due to the massive increase in the number of second homes and huge price increases, in nearby Rock, 12 detached bungalows are 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.

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