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'Build more homes to help locked-out generation'

BROMFORD Homes is backing the call to build more affordable homes so that many working people won't struggle to pay for a roof over their heads and a future generation won't be priced out of the property market.

The call comes with the publication of a new National Housing Federation (NHF) report, Home Truths, that highlights the worsening plight for people who want a home they can call their own.

Economic growth in London and other hotspots is already causing the housing market to overheat, says the NHF, and by 2020 the picture will be even bleaker.

House prices will have risen to the point that an entire generation will be locked out of home ownership and forced to rent for life − and, to make matter worse, private sector rents are forecast to soar by an average 39%.

Alan Bradley, Head of Sales at Bromford Homes, supports the NHF call − linked to a national Yes to Homes campaign − for more affordable home building.

"The NHF are absolutely right when they say that rents are soaring out of the reach of many and, with house prices forecast to rise by another 35% by 2020, a huge swathe of the population could be locked out of home ownership for life," he says.

"The problem is particularly acute for first-time buyers on lower incomes in sought-after areas like Cirencester in the South West and Stratford-upon-Avon (pictured below) in the West Midlands. As things stand, the only way that many of them can take that all-important first step on the property ladder is through shared ownership.

Stratford 1 612x340

"Bromford will continue to do our bit by building shared ownership homes across Central England and help young hundreds of first-time buyers and other people who can't afford open market prices to make their property dream come true."

Launching the Home Truths report, NHF chief executive David Orr says: "We hear a lot about 'making work pay' but a decent job won't even cover the cost of a home in England. Billions of pounds of taxpayers' money is wasted, lining the pockets of private landlords, when it could be better spent building more homes people can afford. Relying on the private rented sector so heavily is a costly sticking plaster rather than a solution.

"In towns and cities pulling away from the recession the dysfunctional housing market is burning the fingers of many people. Hard-working families are spending more and more of their income on a home and many could be forced to move − away from jobs, schools and relatives. We need to address the problems of the housing market now, before another generation is left locked out and reliant on taxpayers to keep the roof over their head.'

Follow the links to find out more about the NHF report and Yes to Homes campaign.

10 December 2013