property investment ideas, advice, insights, trends Property Investment ideas, advice, insights, trends Property Investment News

 Property News

more news articles...

Come again? It turns out two-thirds of Nimbys are worried about rising house prices


I am City A.M.'s digital editor. Having previously worked at Property Week
Villagers To Protest Against New Eco Town
Not in my back yard: Nimbys are confused about house prices (Source: Getty)

It appears the chickens are coming home to roost for so-called Nimbys, after new research showed two-thirds of them are worried about soaring house prices.

The study, by the Federation of Master Builders (FMB), found 60 per cent of people who object to new homes being built in their local area are also frustrated the next generation can't afford a property nearby.

Meanwhile, just under half of Nimbys (short for "not in my back yard") said they were frustrated their children, grandchildren or great grandchildren cannot afford property in their local area.

The capital was the worst area for this duplicity, with Londoners most likely to object to development in their locale and most likely to express irritation at younger generations' inability to buy property.

The report also suggested England was a hotbed of Nimbyism, with 34 per cent of homeowners taking an anti-development approach, compared with 29 per cent in Scotland, 28 per cent in Wales and 21 per cent in Northern Ireland.

"This new research suggests that too many people want contradictory things and we hope it will be helpful in reminding people that they canít have it both ways," said Brian Cherry, the FMB's chief executive.

The news came as more research suggested stamp duty, rather than Nimbyism, had been the cause of a 50 per cent decline in housebuilding since the 1970s.

A study by Santander found 146,000 more property transactions would have taken place between June 2012 and June this year if Stamp Duty had been removed.

"First time buyers struggle to get on the ladder, young families want to move up it and the elderly want to downsize, but all are stifled by Stamp Duty," complained Miguel Sard, managing director of mortgages at Santander UK.

back to top

Site Map | Privacy Policy | Terms & Conditions | Contact Us | ©2018