Affordability is down to interest rates mostly. If and when they come down people will start buying again. At present hardly anyone is buying as they are waiting for rates to come down.That's the problem. Cost to build including a margin doesn't relate to peoples affordability. Not sure how any governemnt is going to square that circle
Not sure it is. Loan to value I would think is more the issue and being able to get a deposit. Maybe Gov could do something with depositsAffordability is down to interest rates mostly. If and when they come down people will start buying again. At present hardly anyone is buying as they are waiting for rates to come down.
Hopefully the new government will treat vocational subjects with respect and not go with this EBAC shiteBe interesting to see how the Government think we are going to actually build 370000 homes a year over five years with half affordable. It's alright having targets, we have had these before, but there will be plenty of hurdles to overcome to achieve anywhere near this level.
Funding will be a major issue for the social housing and the required infrastructure. I had a meeting with a fella who works at a strategic land company yesterday. He told me there was social housing in the south east that had been built but none of the local social housing companies had the funds to actually run these properties, so they sit empty. I was gobsmacked.
Funding for private housebuyers is nearly entirely dependent on affordable mortgages. So Reeves will need to instruct Bailey to drop interest rates as a starter. The housebuilding industry has been working way below capacity for over a year as new houses aren't selling.
Their is also a massive skill shortage in the construction industry, which wont be filled over night.
So nearly a month in and we are already probably 20- 25k houses behind the Governments target.
They go hand in hand don't they surely?Not sure it is. Loan to value I would think is more the issue and being able to get a deposit. Maybe Gov could do something with deposits
Agree entirely. People need to learn trades rather than study things such as media studies and philosophy etc.Hopefully the new government will treat vocational subjects with respect and not go with this EBAC shite
Not sure, the price is the price irrespective of interest rate. The deposit is the killer I thinkThey go hand in hand don't they surely?
Probably has a big part in it.Not sure, the price is the price irrespective of interest rate. The deposit is the killer I think
Certainly for those in rentedProbably has a big part in it.
I'm an accountant and do tax returns for quite a few elderly clients. They don't have any benefits and rely solely on their pensions. Losing the winter fuel payment is a fill of heating oil etc. Didnt take long for labour to hit the ordinary folk