They also suggest they could reach more than £900,000 by 2034 unless a radical housebuilding programme is put in place to provide a quarter of a million homes a year. The report also predicts that over half of those aged between 20-34 could be living with their parents by 2040 as they get locked out of the property market. In the report, Building The Homes We Need, the organisations call for whichever party wins the 2015 election to address housing in an emergency budget and a new bill, introduced within 100 days. Recommended measures include giving planning authorities the power to create ”new homes zones” where there would be no development tax and landowners would be able to invest their assets in exchange for shares in any future increases in value.
The average house will cost £900,000 in 20 years
May 1, 2014