Cornwall town's second home ban 'has backfired on locals'

News of a study claiming that a neighbourhood plan's ban on second homes in St Ives has 'backfired' and in fact caused house prices to rise for locals features in today's newspaper round-up.

The Telegraph (subscription required) reports that a ban on second homes in St Ives has "backfired" after new home builders abandoned the town, causing house prices to rise for locals. The much-publicised ban on new second homes was introduced in the Cornwall town’s neighbourhood plan in 2016. The paper reports a study by the London School of Economics has found that local building companies have relocated to towns elsewhere, leading to a reduction in available homes in St Ives and prices for existing homes rising by 7.7 per cent.

The Guardian reports that Prime Minister Boris Johnson is expected to rule out any new fracking as part of his election campaign following rising opposition among voters and within the Conservative Party. It reports that Johnson said the government would make an announcement on the UK’s facking industry following a review into a series of recent earthquakes at a shale site in Lancashire. 

An opinion article in the Edinburgh Evening News states that a scaffolding platform at Edinburgh's Christmas market was constructed without a planning application being submitted. The article by John McLellan states that independent company Underbelly was given the go-ahead without an application after it argued that the new structure was needed to make the market viable. The newspaper alleges that Underbelly said it could not make an application before work started on 18 October because they needed an engineering report, and that decisions had to be taken quickly due to a tight timescale for the project.

House builder Crest Nicholson has warned of lower than expected profits following Brexit uncertainty, the FT (subscription required) reports. The paper says the firm predicts that profit before tax would fall to £120-130 million for the 2019 financial year and to £110-120 million the year after, about 20 per cent below analysts’ forecasts. It reports the company’s chief financial officer Duncan Cooper as stating that the company had suffered from the uncertainty surrounding Brexit in the run-up to the previous deadline for leaving the EU of 31 October.

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