Build more houses. It’s a very simple but impactful plan. We have nowhere near enough houses for our growing population, having failed to hit almost every target for new homes each year.
However, these homes need to be built for what and where the population actually needs, not simply of the type and location the major national house builders want them to make the most profit.
This could mean that the Government needs to launch a major social housing build program, or it could be joint ventures with builders, to ensure we don’t end up with just more 4- and 5-bed “executive homes” built in the most affluent areas of the country.
It would also be good to see the Government help people with deposits, which is the major hurdle for most people, be that with a more generous version of the lifetime/help-to-buy ISA, or even something more bold; such as allowing people to withdraw their first house deposit from their pension pot.
Scott Taylor-Barr is principal adviser at Barnsdale Financial Management
