Page 0012

The housing crisis is essentially

about affordability: prices that rule

out owner-occupation for most

young families in many parts of the

country; rents that are bringing

much stress to low and middleincome

tenants.

Of course, we need many more

houses built. But this is a longterm

solution: even if 300,000

houses a year were built - way

above present levels - it would

bring down prices by an estimated

5%. Not surprising as the

additional houses represent only

1% of homes. We need specific

action to make new housing

affordable.

The first is a large-scale building of

social housing for rent

commissioned by councils or

housing associations. We believe

100,000 a year is feasible (check

Wera).

The second is a major programme

of building of homes for purchase,

or part purchase or rent-to-buy. To

be affordable to first time buyers

AD LIB NOV 18 | PAGE 10

CRISIS

Tackling the

Sir Vince Cable sets out his take on the national crisis that

isn't going away - and needs real solutions.

housing

Index

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