Big kids are staying put but town may buck problem with homes
LATEST figures in a report from homeless charity Shelter show that most young adults could still be living with parents in 2040 as house prices soar.
The research from Shelter and auditing company KPMG shows that unless the government commits to a radical house building programme and dealing with the deepening housing crisis, average house prices across the country could double in just 10 years.
In 20 years they could quadruple from £446,000 to more than £900,000.
But Swindon estate agents Charles Harding say that the town could buck the trend, with entry level house prices remaining lower than in the surrounding area.
John Harding, a director at Charles Harding Estate Agents, said: “Swindon is in a bit of a property cocoon in that it has such a low price market, especially for first time buyers.
“We have never had that problem and I don’t think really will for the foreseeable future.
“I think areas around Swindon might be affected but in terms of entry level properties in Swindon itself I think it’s going to stay the same.”
The report sets out a blueprint for the essential reforms the Government needs to take to turn around the national trends and deal with the housing shortage in a single parliament.
This includes giving planning authorities the power to create New Homes Zones, unlocking stalled sites to speed up development and stop land being left dormant, introducing a new national housing bank to provide low cost, long term loans for housing providers, helping small builders to get back into the house building market and fully integrating new homes with local infrastructure.
Shelter said that unless something was done soon, more than half of those aged 20 to 34 could still be living with their parents in 2040.
Campbell Robb, Shelter’s chief executive, said: “Our chronic shortage of affordable homes means that a generation face a future of living in their childhood bedrooms into their 30s.
“This isn’t just a blueprint for how to get Britain building, it’s a blueprint for how to restore the aspirations of a generation who’ve been left with little hope of a home of their own. We have shown politicians that it is possible tackle our housing shortage head on.”