The UK has failed for decades to build enough houses to meet demand. In the last Budget, the Chancellor announced sufficient funding to deal with the issue – but what I fail to see from this government is a coherent plan to achieve it. Left-wingers do (correctly) speak about the need to protect the greenbelt; right-wingers (also correctly) point out that mass immigration further increases demand for housing. Both sides decry the failure to ensure that first-time buyers can get onto the property ladder.
I want to hear more about actual solutions. For years we’ve seen the private market, and social housing. But what if we were to introduce a hybrid between the two? What if government were to finance – using the existing money announced by the Chancellor – the setting up of a new Housing Corporation to build cheap, modern, modular, starter eco-homes – and to sell those houses to young people and other first-time buyers at cost price? When a young person comes to sell, years down the line, they could have a guaranteed sale back to the Housing Corporation (providing it’s kept in good condition, at an appropriate proportional profit) to be used to help someone else?