Class Q Ltd has announced its intention to generate £100m worth of investment into the UK’s struggling housing market in the years leading to 2025 via its esteemed land promotion service.
Average house prices in the UK have risen by over 160% in real terms since their low point in the middle of 1996. Home ownership remains around its lowest level for a generation.
The housing secretary has said that in the coming months he will be "reforming the planning system to increase housing delivery", as the government announced that it is exploring how planning changes can "help bring forward additional sites for homes that local aspiring first-time buyers can afford to buy".
Iain Downer, Operations Director at Class Q, commented:
“the current housing crisis, despite Brexit chaos, must remain at the forefront of the government’s thinking. Home ownership for millennials is at the lowest level ever and it’s encouraging to hear the housing secretary’s recent comments”.
Home ownership among young families has plummeted across every corner of Britain over the past 35 years, according to a devastating inquiry into the housing crisis facing millennials.
The proportion of families headed by a 25- to 34-year-olds that own their own home has more than halved in some regions, showing that the crisis goes far beyond London.
Analysis conducted as part of a two-year investigation into intergenerational fairness in Britain, chaired by a former Tory minister, found that millennials are being forced into increasingly cramped and expensive rented properties that leave them with a longer commute and little chance of saving for a home. It also finds an increasing proportion of the young living in overcrowded housing.
“Class Q are strongly positioned to prosper in the evolving policy landscape and deliver thousands of homes suited to people of all ages and backgrounds, enabling them to access the property ladder”, added Downer.
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