View more on these topics

Young families continue to suffer property shortgage

A recent survey, carried out by SmartNewHomes.com found that 94% of participants said they felt there were not enough new homes available for families to buy.

The survey was run as part of the SmartNewHomes.com campaign, which is asking government to review its planning rules to provide suitable housing for young families, and invited visitors to the site to express their view on the current housing mix.

An overwhelming 86% of participants indicated they were looking to purchase a typical family home, and 72% were looking to move within the next year.

However, the majority of these potential buyers were struggling to find a suitable property to meet their familys needs.

A revealing 39% indicated that they were looking to spend under 200,000 for their next home, yet the average price for a new home last month was recorded as 254,374.

David Bexon, managing director, SmartNewHomes.com, says: This survey reinforces our campaign not only are there not enough new family homes on the market, but those that are available are beyond the budget of over a third of buyers.

Surely if a massive 94% of consumers feel there is a shortage of suitable family homes the government should take action and adjust their current planning policies accordingly.

A recent announcement by DCLG clearly highlights that there is a vast proportion of Brownfield land available for development, with enough land in the South East to accommodate over 400,000 new homes.

However, it is essential that government gives careful consideration to the types of properties built in such areas affordable three and four bedroom houses are clearly in demand and apartments must not be constructed at the expense of young families.

While 58% of properties on the SmartNewHomes.com site are currently apartments, only 34% of people who visit the site actually search for this type of property.

In stark contrast, detached and semi detached properties make up just 32% of the mix on the site, yet 56% of visitors are searching for these properties.

Bexon adds: There is clearly a severe problem with the current housing mix, with too many apartments and a not enough detached and semi-detached properties being built.

“The current over supply of apartments was recorded in our recent index which noted apartments taking the biggest fall in price.

If the government fails to address this issue and refuses to work more closely with the developers who understand the demand across different regions this problem seems set to worsen, with rising house prices preventing young families from getting onto the housing ladder or forcing them to stay in their current property as they cannot afford to move.

Recommended

Lenders that treat brokers unfairly risk losing out

From Lee Martin Like any other broker I do this job be-cause when it goes well it is satisfying, we get paid enough and the hours are flexible. But some lenders have a lot to learn about Treating Customers Fairly. I am the lender’s customer. I decide if a lender gets my client’s business and […]

Road shows are key for advisers, says Prudential

New research from Prudential reveals that the majority of financial advisers think that roadshows play a key role in terms of them learning more about the Equity Release market.The research also found that their clients would benefit from more information about these products. Almost one in five (17%) of financial advisers questioned said that they […]

SMS named top packager

Solent Mortgage Services has been named packager of the year by lending partner Preferred. This is the fourth time SMS has won this accolade.

IHT is political battleground

Inheritance Tax is being pumped as an important electoral issue that could see Labour win or lose a string of marginal seats in constituencies where the average house price is above the 285,000 threshold.

Why your clients need some tough love

In any relationship that matters, professional or personal, you should be upfront with someone if you think they’re making a decision or doing something they might later regret. Being honest with someone and having their best interests at heart, however hard the message, is key to building trust in any relationship. So how does this […]

Newsletter

News and expert analysis straight to your inbox

Sign up