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Ghost Villages or New Opportunity? How Cornwall’s Second‑Home Tax Could Re‑shape Communities

In early 2025, Cornwall Council introduced a double council tax charge for second homes. Their aim: reduce the number of empty houses, raise funds for local services, and make homes more affordable for residents. It’s a bold move—but now that it’s in place, the impact is becoming clear.

Take one village near Fowey. Nearly half the homes are second homes. Since the tax came in, owners have been slashing prices—some by £100,000—and still failing to find buyers. Streets that used to buzz during the holidays are now looking half-empty, even in peak season.

The policy’s promise

Cornwall Council expects to raise £24 million through this premium. The money could go toward new homes and vital services. For locals, the idea is popular—many feel they’ve been priced out for years. And with over 22,000 people on housing waiting lists, the need is urgent.

But there’s a catch

In places with high numbers of second homes, quick exits by owners could lead to lower demand, fewer seasonal visitors, and quieter towns. Local businesses—especially those relying on tourism—are already reporting fewer bookings and walk-ins. An empty house isn’t much use to anyone, and boarded-up cottages do little for village spirit.

So what now?

This could go one of two ways:

More second homes come back onto the long-term rental market.

Prices fall enough for local families to buy back in.

Either way, Greenway believes there’s a chance to get this right. Property shouldn’t sit empty. With the right support, second homes could become part of the solution.

If you own a second home in Cornwall, this is a moment to think differently. Is it time to rent long-term? Could you offer a let that suits a local family? Would a small price drop now lead to a more secure future?

Greenway’s team is here to help you explore every option—with honest advice and local insight. Because Cornwall isn’t just a holiday spot. It’s a community. And it’s one worth keeping alive.

Source: https://www.thesun.co.uk/money/property/35472006/posh-village-ghost-town-price/?utm_source=chatgpt.com