The estate agents in Cornwall might be busier than ever. Across the water in Wales, properties are being sold off. And the villages of Norfolk are witnessing a flood of “for sale” signs beside otherwise immaculate streets. The war on second homes is being won, with owners selling up in record numbers in the wake of higher council taxes and the looming prospect of an increase in capital gains tax.

Many local campaigners will celebrate that, arguing that it will make housing more affordable and local economies more resilient. There’s a catch, however: it could also destroy jobs and businesses. In reality, the second-home owners will be missed when they are gone – because there will be nothing to replace them.

The Telegraph London