Will banning second homes actually work?

The decision by St Ives to limit holiday homes has had huge implications:
Futures Forum: St Ives and seaside Britain: banning new second homes
Futures Forum: Neighbourhood Plan: and the impact of the St Ives ban on new-build second homes

BBC Countryfile looked at the issue of second homes over the weekend:

Second homes

Tom Heap is in Cornwall where the town of St Ives has come up with a new solution to the problem of empty second homes.

Since December, no new build homes can be purchased in the town unless you can prove that they will be lived in for three quarters of the year.

Across the County other parishes are looking on in interest and on the Rame Peninsula they’re planning a similar idea.

Further afield affected communities around the country are watching as well to see if this could be the answer to the problem, but will it actually work?    

Read more about the St Ives second home ban 

BBC One - Countryfile, Isle of Man

Indeed, the St Ives story is still very much in the news:
National housing crisis spotlight shines on Cornwall and St Ives as prices reach record high | Cornwall Live
Houses in the South Hams are now more than 14 times the average wage | News | South Hams Gazette

The question remains though as to whether this will work:
Housing affordability: Will St Ives' ban on new investment and holiday homes help residents? | ABC Radio Australia
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