Maryport is latest target for Investment Home Buyers

Maryport, Cumbria appears to be the latest hot spot for speculative house purchases by outsiders.
 
House prices have been forced up in the Furness area due to the well publicised advent of the Marina Development by the old docks and Maryport with its harbour is gaining favour with similar individuals and developers as a town which could reap rewards if you buy now.
 
Great in some ways, the big problem is that the housing stock for young and old alike has been decimated by second home purchasers much of that on a buy to let or holiday let basis. This does little for the local economy and turns many villages into dormitory areas for the bigger towns or seasonal tourism with its profitable rental income going outside the county.
 
Sooner or later we will have to come to terms with the fact that our young people will continuously have to move away if we don't stop this attack on local housing. Perhaps it is time to look at the tax treatment of second homes – after all if you can afford more than one home you can afford to pay more in tax.