Property News · May 14, 2023

Increased housebuilding will not benefit young buyers | Letters


John Worrall says developers will not boost supply to the point where they have to drop prices and Alan Horne thinks a complete reset on housing policy is requiredGaby Hinsliff says that “most Britons now accept the case for more housebuilding” (Britain’s nimby homeowners: do you really want your children living with you for ever? 12 May). However, developers will not increase supply to the point where they have to drop prices. They might say they will, but that is a ploy to get more planning consents. “Sell one, build one” was always – and remains – the creed.With average house prices now at around nine times average earnings, prices would need to roughly halve across the entire market to become affordable for unendowed adults forced to live with their parents. Continue reading…

Source : theguardian.com
Read more…Increased housebuilding will not benefit young buyers | Letters

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