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Call to overhaul housing policy

1st September 2010 | back to article listings BACK    print this article PRINT

A think-tank has called for a radical overhaul of the UK's housing policy, suggesting "very substantial" cash incentives should be offered to residents in areas where developers plan to build new homes.

Policy Exchange has proposed that when deciding on new construction projects, local residents should be balloted - instead of allowing council planners to determine whether to approve a plan or not.

According to the think-tank, this along with a number of other proposals would boost the supply of new properties as well as lead to stability in the market.

It is expected to help in improving the troubled property sector. The "housing crisis" has kept away many would-be first-time buyers from the market, as well as resulting in long waiting lists for social homes.

The proposed shake-up in the country's housing policy could save taxpayers about £20 billion every year, mainly by reducing the cost of Housing Benefit and enabling social tenants to find work, Policy Exchange claimed.

The report called for the Government to adopt an official policy of stable prices for housing and take measures to prevent the kind of inflation seen in the last decade, with the goal of ensuring that all working families should be able to afford a decent home by 2030.

Author Alex Morton also urged ministers to quadruple to 100,000 the number of new social homes built each year.

Copyright © Press Association 2010

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