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What’s needed now is consistency rather than upheaval. A government must be formed as quickly as possible so that we can continue to build on the progress made in recent years in supporting the housing and housebuilding sectors. It was a good sign for the sector that all major parties recognised the need for a focus on housing in their manifestos...
What our benefits can really mean
Private finance has become increasingly vital to housing. More could be done to help investors understand and continue to support the sector
The most pleasing aspect of the manifestos is that the major parties appear to recognise the scale of the housing crisis facing the UK and particularly the problem of affordability. They have put forward some bold ideas to tackle these issues.
The housing shortage is at the forefront of public consciousness. Rising rents and capital values, within the context of fairly static wage growth, have left a huge cross-section of society with limited opportunities to own their own homes. With the affordability of housing for those even on above-average incomes now a national crisis, the recent shift in policy focus away from traditional ownership, has been broadly welcomed by the sector.
Rapidly increasing house prices, static wage growth and climbing rents are making it incredibly difficult for a young buyer to save for a deposit - especially as the average house price now stands at £218,000
As with every budget, the Chancellor’s speech last week was followed by a flurry of reaction and views about how it helped or hindered different sector.
We’re keen for shared ownership to be seen as a solution to the housing crisis and the industry is making strides to ensure shared ownership works for the broadest range of people that it’s designed for.