... and so 20 years ago a load of Welsh people burned down the holiday homes of a load of English people.
It happens everywhere. The north was cheap, so many companies moved up there with their workforces. People used to southern house prices could afford lovely big houses at first, then the prices went up to compensate. So house prices in the commuter belts of the north aren't really much (if any) cheaper than in the south now. Whereas there used to be a massive gap.
No doubt the natives were sitting around growling about "bl**dy southerners coming in and driving up the house prices". You would think the newcomers were spending their money in local businesses, but it probably wasn't the case: they no doubt wanted Sainsburys instead of Morrisons, and being the 1980s, trendy winebars instead of the local Bass pub.
I'm not saying it isn't a problem, of course. But this is a trend of prices everywhere. I despair about what happens when I come to sell my 1-bed flat. Property prices have gone so silly round here that similar properties are on the market for far more than
I think they are worth, I even suspect they have headed beyond the reach of most first-time buyers. And who else buys a 1-bed flat?
A property is only worth what someone has just paid you for it, if I can't persuade people to pay that much for it I will be in bother getting my house.
Estate agents have artificially inflated house prices to get more out of their 2%'s. They will be regretting it soon because fewer people will be able to trade up anymore. It happens, in 1988 we lived next door to an estate agent, he lost his job almost overnight.