Responding to research from Shelter showing that the affordability crisis may spell the end of the “housing ladder” for first time buyers, Stewart Baseley, Executive Chairman of the Home Builders Federation, says:
“Shelter’s analysis reveals that it became more difficult to get on to the property ladder in every English region last year. The widening gap between housing supply and demand is now having profound social and economic implications. A whole generation is effectively being denied the opportunity to own a home and share in the wealth of the property market.
"The only sustainable solution to the affordability problem is to build more homes. Not only will this ensure supply better matches demand, it will enable developers to meet the requirements of all parts of the market so that more people can realise their aspiration to own their own home."
Notes for Editors
The Home Builders Federation (HBF) is the principal trade federation for private sector home builders and voice of the home building industry in England and Wales. The HBF’s 300 member firms account for over 80% of all new homes built in England and Wales in any one year, and include companies of all sizes, ranging from multi-national, household names through regionally based businesses to small local companies: www.hbf.co.uk
New research spells end of “housing ladder” for first time buyers, Shelter warns, 00.01, Monday 13 March 2006.
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