We back NHF call to build more affordable homes
BROMFORD Homes is backing the latest National Housing Federation
call to build more affordable homes in the region.
The "Yes to Homes" call is given fresh impetus with the
publication today (Friday) of Home Truths 2014: West
Midlands, a hard-hitting NHF report that reveals the region's
housing market is now at breaking point.
Less than half the homes needed are being built each year, says
the report, and the shortage makes housing more and more
unaffordable in the West Midlands.
Key findings highlighted by the report include:
- House prices soared 56% between 2002 and 2012, with the average
home now costing nearly nine times the average wage at
- Private rents in the region have risen even faster than house
prices, soaring 61% between 2002 and 2012, and are set to rise
another 39% by 2020. In some local authority areas such as
Stratford-on-Avon, rents have risen by around 7% in the last year
alone − up in that case to an average of £835 a month
- It costs £34,676 just to put down a deposit on the average open
market home in the West Midlands.
Bromford Homes Head of Sales Alan Bradley supports the NHF,
saying: "It's clear to anyone reading Home Truths 2014: West
Midlands that the region needs more affordable homes. Open
market property prices are unaffordable for so many people on
ordinary incomes and the problem is getting worse as wages lag
behind the rise in housing costs.
"We know from our own experience that shared ownership homes are part of the
answer − this year alone we've helped almost 200 shared ownership buyers
to get onto the property ladder. But, of course, it's a much wider
problem and that's why we support the NHF Yes to Homes
Gemma Duggan, West Midlands external affairs manager for the
NHF, urges local people to contact local councillors and say "Yes
"High house prices, rising rents and comparatively low wages in
the West Midlands are not only making life extremely difficult for
people living and working in the region, but they are also
affecting employers and businesses and risk holding back economic
growth," she says.
"We need Local Enterprise Partnerships to work with local
councils, housing associations and others to take a strategic lead
on getting more homes built at the right price in the right places,
which will help revitalise communities and create jobs. Local
people also have an important role to play. Those who want more
housing in the West Midlands need to contact local councillors and
say Yes to Homes.
"With more support, housing associations across the West
Midlands can be real catalysts for change for local communities.
They are in it for the long term and can actively drive forward a
balanced economic recovery."
To find out more about Home Truths 2014: West Midlands
and how the federation worked out its statistics, visit the NHF website. You can also find out more at Yes to
21 February 2014