Rat and Mouse
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Thu
25
Jun
Buy my house? You're not from round here, are you?

Here's a strange one... 1980s right-to-buy legislation including a covenant excluding selling a property on to anybody who doesn't have ties to the region... in this case, Dorset.

Mr Collins said: "That creates an exceedingly restricted market for us in a time when the housing market is already at one of [its] lowest points. "There is no date by which we can sell it outside the covenant. "This property could be on the market for 40 years and we would still only be able to sell it to Dorset people."

There's been chatter, in recent years, of similar covenants returning, in a bid to stop second home buyers pricing locals out of rural beauty spots. While this former council property languishes on the market, its value diminishing, I'm sure the Collins's will be keen to tell all just what good such a covenant does for the local community.

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Comments

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Posted by LnddMiles at July 21, 2009 9:33 PM


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