House price increases are a disaster for first time buyers and those struggling with rents in the private sector

(An article in the Brighton Argus on 10th April 2018 reported positively about house price increases in Brighton and Hove.  I see the opposite.  Here is the text of a letter I sent to the Argus, published on 11th April 2018).

The language used regarding house prices is odd. In your article ‘Our housing boom’ ( 10 April 2018) the estate agent, Savills, said that “there is potential for yet more growth“ in house prices.

I would have said that  “there is the serious risk of yet more growth in prices“. The average sale price for a two bedroom flat or three bedroom house on the outskirts of the city is now touching £400,000, a little short of property prices in London.

Your headline suggests that increasing prices is a good thing.  It might be good for those who see housing as an investment opportunity but it is a disaster for first time buyers and for those struggling with rents. Housing should not be seen as an investment opportunity but rather the place where people live.

The ever increasing price of properties in Brighton and Hove means that more and more people will struggle to get on the housing ladder, rents in the private sector will increase, and homelessness will be exacerbated.

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One thought on “House price increases are a disaster for first time buyers and those struggling with rents in the private sector

  1. Couldn’t agree more Andy but perhaps you should avoid the phrase “…get on the housing ladder”? Isn’t that a phrase that implies expectations of continuing rises in house prices? To me it implies an investment ladder. People just need to be able to expect that they have a good chance of becoming securely housed, whether through owning or renting.

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