Parliament report: Young Brits will be ‘priced out of housing for years’


The housing crisis for young people is likely to continue for years and the government lacks the ambition to address the need for affordable housing according to a Parliament report produced by the Public Accounts Committee

The report states that England’s housebuilding numbers have fallen well below targets for decades. Consequently, there has been  a long-running shortfall in the number of houses for sale which inflates house prices putting them beyond the reach of first-time buyers.

In order to address this, the Department for Communities and Local Government has put in place a target that could see one million homes constructed over the next five years.

However, it has admitted that England’s housing market is “broken” but has not made steps to improve the market, which is dominated by a select few private developers and could cause issues with meeting this target.

The Department also admitted that even if the one million homes were completed, a large shortfall would still exist to meet current demand. This means that issues relating to availability and affordability are likely to remain for several years beyond this five-year period.

A spokesperson from the Department said: “The Housing White Paper published in February includes measures to deliver more homes. On top of this, 112,338 households have used the Help to Buy: Equity Loan scheme since its launch.

“The Autumn Statement also included an extra £1.4 billion for affordable housebuilding, taking the total to over £7 billion to deliver more than 200,000 homes. And £550 million has already been allocated to tackle homelessness and rough sleeping, with a focus on prevention.”

The positive statement from the Department for Communities and Local Government spokesman stands in stark contrast to the testimony given to Parliament by one of the country’s top civil servants charged with housing.

In February, the Permanent Secretary to the Department for Local Government Melanie Dawes admitted that Theresa May’s new policies will not stop the country’s housing crisis from continuing “as it has done for decades.”

Miss Dawes added that she was “simply being honest” when she revealed that houses prices are set to stay out of reach of those who cannot offered a property and that homelessness will continue to rise.

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