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87% Of East Midlands Families Can’t Afford A New Home In The Region

3rd March 2017
News

87% Of East Midlands Families Can’t Afford A New Home In The Region

New research carried out by the Shelter charity has revealed that 87% of families in the East Midlands cannot afford a new home in the region, as the report claims the current house building system is ‘rigged’.

The report claims that the system favours big developers and land traders rather than families and is failing families by producing “high-priced and poor-quality homes”

Nationally it’s claimed that eight in ten working families who are privately renting wouldn’t be able to afford to buy a new home even if they used the government’s Help to Buy scheme.

The East Midlands is ranked as one of the worst hit regions as 87% of families are not able to afford to buy an average-priced new home, with the average price for a New Build House being £215,000.

To combat this, Shelter are launching a new “Civic House building” model which calls to create a large number of good-quality and affordable homes which enables the community to have real influence on how houses are built.  

Catharine Banks, who is Shelter’s Assistant Policy Officer, said “Ultimately what we are seeing with our (current) house building system is that it’s not delivering the homes that people need, its making healthy profits for land owners and developers and at the end of it families are paying the price with the expenses and poor quality of newly built homes. We’ve been stuck with this system for decades now, so it’s time for the government to adopt some fresh thinking in order to end housing crisis once and for all”

“New Civic House building is a new alternative way of building homes and actually draws on our house building traditions in the country – it’s the model that built places like Edinburgh’s New Town, Stevenage, Milton Keens which are all some of our most successful housing developments in the last couple of hundred years”

“Our new research has found that the families who are most in need of new homes, just aren’t able to afford New Build Homes which goes to show, we believe, that new build homes are just too expensive for those families”  

 

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