A stinging indictment of Britain’s broken housing
Sajid Javid, announced plans to reform the UK’s “broken” housing market.
On Tuesday, the communities secretary, Sajid Javid, announced plans to reform the UK's "broken" housing market. The government's white paper "reads like a stinging indictment of the way we have gone about providing homes in recent decades", says The Guardian.
But while there is talk of loosening green-belt restrictions and building more, there needs to be "real protections for renters legislating for longer, more secure tenancies tied to predictable rents". The government also needs to let councils build more houses "there's no chance of building the target 250,000 homes a year through the private market alone".
Housing is increasingly "like Monopoly, with the youngest and poorest shoved off the board before they have even started to play", says Alice Thomson in The Times, But "it is short-sighted to tarmac over fields and smother them with identikit brick boxes". Instead, we should "regenerate once-beautiful market towns rather than allow them to disintegrate slowly", or incentivise small builders to "think creatively on fiddly complicated brownfield sites". We also need to encourage "the elderly to move to more practical accommodation for their last years".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It would be good to persuade older people to downsize to free up homes for young families, agrees Kirstie Allsopp in The Daily Telegraph. But it's easier said than done. There's the quality of modern homes for a start new-builds are "becoming ever smaller, meaner and less suitable for people living in them". Stamp duty and conveyancing delays also make it harder for people to move. Javid is right: the housing market is broken. But "not for the reasons he thought".
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.
He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.
Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.
As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.
Follow Matthew on Twitter: @DrMatthewPartri
-
Bargain British stocks with long-term potential
Three British stocks with plenty of long-term potential, according to Ian Lance, co-manager of Temple Bar Investment Trust
By Ian Lance Published
-
8 of the best properties for sale with equestrian facilities
The best properties for sale with equestrian facilities – from a Georgian manor in Ceredigion, Wales, to a period farmhouse with an equine swimming pool in Banbury, Oxfordshire
By Natasha Langan Published