New homes for low paid people

For all the young people working to keep this country going… who are we to say no to the chance of a home of their own when this is over?

Put yourself in the shoes of someone in their late twenties to mid-thirties. In a £26,000 job, in London. You are still living at home. Your parents bought their first house in their mid-twenties. But you work hard, and want a home of your own. What options will there be when this crisis is over?

Private renting is too expensive, unless you want to share.

For social rent, you’re going to be at the bottom of a list.

Shared ownership needs a salary of around £50,000 in London.

And as for buying on the open market, unless your parents have a spare £200,000 or you are willing to move miles away, dream on.

Is this really all we can offer this person? We should be – and we are – building more social rented homes. We should be – and we are – building more shared ownership homes.

But what we are not doing is offering enough affordable homes to buy. Discounted to the open market, but crucially, based on their income level. So when this is all over, these young people can have a real option of home ownership, rather than a dream.

#homesforheros #homesforall #affordablehomes #firsttimebuyers #GLA #firsthomes #essentialworkers #homesengland