Housing is simply unaffordable for first-time buyers across England – particularly in London and the south – according to a new report by Shelter.
The report, How much of the housing market is affordable?, says that first-time buyers are being placed under increased financial pressure.
The homeless charity analysed homes listed on ‘property listings’ website Zoopla across England. It found that:
- 16.9%, or 42,185 homes, were affordable and suitable for families earning the median income of £30,748 a year;
- for single people looking to buy a home, only 7.5% of homes were listed at an affordable price;
- for couples without children, 32.3% of the market is priced affordably;
- just 0.01% homes in London are affordable;
- in 35 local authority areas, mostly in the south east and London areas, there were no suitable homes available for first-time buyers.
Shelter report: How much of the housing market is affordable?
UNISON is calling for more help with home ownership – for example help with mortgage deposits for existing properties as well as new-build ones.
The union is also calling for stamp duty to be abolished for first-time buyers.
The union is part of the Housing Voice affordable homes alliance and backs the policies set out in its To Have or Have Not? report.
Housing Voice report: To Have or Have Not?
The main political parties have admitted that more help needs to be provided for first-time buyers. Labour, for example, has pledged to abolish stamp duty for first-time buyers on properties up to £300,000.
“Housing affordability remains a major problem for many people, particularly first-time buyers, looking for a home to buy,” says UNISON’s Sylvia Jones.
“The housing affordability crisis has been compounded by the lack of social housing and finance for home ownership, and the crisis requires a wide range of solutions to tackle it.
“Crucially, what is desperately needed is a significant increase in the supply of all types of housing – particularly social housing – over the next 30 years.
“This would widen the housing options of people and lower the costs of housing overall for everyone – making more housing available, accessible and affordable.”
