Use it or lose it.
… Money will be provided to 148 councils after the Department for Communities and Local Government announced regional allocations under the Community Housing Fund. The money is intended to provide backing for local housing groups to deliver homes aimed at first-time buyers.
One third of the funding – almost £20m – will be allocated directly to local authorities in the south west of England as this is the most popular region for second homes in the country. It accounts for 21% of all second homeownership, according to the government. …
… The first year of funding will be used to build capacity within local groups, for example improving technical skills, setting up support hubs to offer advice, business planning or providing staff to review local housing needs. Funding the following year must then be used to deliver housing on the ground for local people.
Councils will work closely with community-led housing groups to distribute the funding and ensure the right tools are in place to efficiently deliver new houses in subsequent years.”
http://www.publicfinance.co.uk/news/2016/12/barwell-boost-housebuilding-areas-dominated-second-homes
East Devon Watch 