Housing Block

 

Latest figures relating to housebuilding plans over the last few years highlight that new build plans have been blocked by the Government in the run up to the General Election.

 

Housing has become a major issue in the General Election campaign as high prices and stagnant wages have left a generation of potential first time buyers struggling to get on the housing ladder. The result is homeownership at its lowest level in 30 years and housebuilding at record lows.

 

To put this into figures……experts are generally agreed that around 250,000 new homes need to be built each year to meet demand. Yet only 160,000 have been built in the last 12 months.

 

Which all begs the question……what is the current Government playing at when they are looking to win votes?

 

This is an easy one……

 

Firstly, the average age of a homeowner is far higher than the generation trying to get on the housing ladder. This younger generation has a much lower voting ratio than older voters (the over 55’s are a 75% voter).

 

Secondly, there is a direct correlation between how we feel about our personal financial prosperity and the value of our home. If the number of properties available can be restricted then house prices will remain (perhaps artificially) high and the perception towards the Government is more positive.

 

Thirdly, homeowners are a far bigger voting majority than the renting minority.

 

It may seem brutal what the Government has done with the housing market over the last few years but in a bizarre, strange and almost admirable way……it is very clever.

 

Whilst all political parties will make gusts of noise about sorting the housing issue for first time buyers, it is actually not in their best interest to do so.

 

‘Clever yet shameful’ sums it up nicely.