St Ives might not quite have grasped this supply and demand thing yet:
Residents in St Ives, the idyllic Cornish resort, have declared war on wealthy outsiders by proposing a ban on second homes.
The seaside town has been described as Kensington-on-Sea because so many rich Londoners flock there each summer.
But now residents are planning to block the building of any new holiday lets or second homes claiming they force local people out of the housing market.
The proposed measure is contained in a draft version of the St Ives Neighbourhood Development Plan which could be voted into local planning regulations next year.
Lucy Davis, St Ives neighbourhood plan co-ordinator, said: “There are other places in Cornwall trying for primary residence which have similar problems to us with second homes.
“Around 25 per cent of our housing stock in the parish are second homes – that is unsustainable. There’s nothing we can do in planning we have at the moment, it is kind of unprecedented.
“It will only apply to new builds but what it will do is stop the development bonanza that is happening because suddenly it won’t be so profitable.”
The new builds are aimed at second home owners. Let’s ban any more second home owners. Therefore the new builds won’t happen, will they?