Rishi Sunak and Liz Truss need to put tackling the housing crisis at “the top of their list” if they become Prime Minister, a major housing association told City A.M. this morning.
The National Association of Property Buyers said a whole generation of people faced being unable to own or rent a property due to “a chronic lack of supply”.
The association also hit out at the fact “we’ve seen 12 different housing ministers in 12 years – and called for continuity.”
Spokesman Jonathan Rolande said: “Over the course of the last couple of weeks we’ve heard very little said about how either Liz Truss or Rishi Sunak will tackle the housing crisis.
“This is deeply alarming because right now a whole generation of young people are facing the reality of not being able to rent a property let alone own one.
“This comes down to one issue and one issue alone – supply.
“In all areas of the country we are experiencing a lack of both affordable and new homes that the market desperately needs.”Jonathan Rolande
“It’s vital that whoever wins this race to become Prime Minister sets out a vision on how we tackle this issue,” Rolande continued.
“What’s more we need a Housing Minister who remains in post for more than five mintues and who can get on with the job of delivering.”
Rolande also said there was a strong argument for making housing reform a cross-party issue.
“What worries me,” he said. “Is that in two years we face a General Election where a new Government could come with totally different ideas and plans for housing.
“This is not good for the industry. We need a vision that stretches to five, ten and twenty years and which politicians could agree on via a cross-party basis.
“Without such a consensus we risk repeatedly failing to deliver affordable housing for millions of people.”
Rolande’s comments come as new figures show the average UK house price has leapt by £32,000 in a year, adding to fears of affordability as households grapple with the cost-of-living crisis.
Property values increased by 12.8 per cent annually in May, accelerating from a 11.9 per cent increase in April.
This pushed the typical house price to £283,000 in May, which was £32,000 higher than a year earlier, said the Office for National Statistics.
Property values in England, Wales and Scotland all hit new record levels in May.
The South-west of England was the region with the highest annual house price growth, with average prices increasing by 16.9 per cent. London had the lowest at 8.2 per cent.