Boosting Housing Stock in Britain by Building in Back Gardens
The lack of housing stock is becoming a real strain on Britain’s housing market. Recent research reveals that 57% of Londoners are now saying YES to new builds in their communities. Let’s hope opinion swings away from the NIMBY (“Not in my backyard”) culture to YIMBYs, who are in favour of helping millennials get on the property ladder.
If this way of thinking spreads across London and beyond, it could bring about more cooperation between local councils and developers. In my opinion, one of the first steps would be removing the correlation between affluent areas and difficulties in getting planning permission. A sense of community will flourish for generations to come, rather than isolating those who need help.
For far too long there has been a dire need for affordable housing. It is refreshing to see the sentiment swing in favour of millennials and those struggling to get onto the property ladder. At the moment, there is no clear guidance as to who should be responsible for boosting the housing in local areas. Government is putting mounting pressure on councils to increase housing, yet imposes a limited budget.
Looking to the future
We need to start thinking about future generations. If that means sacrificing some allotment space then so be it. The number of homeowners in the 25-29 age bracket has dropped by up to 50% since 1990. The bank of Mum and Dad has become the ninth biggest mortgage lender in the UK. We need to re-evaluate our stance on property ownership in this country. The tables need to be turned and all those who have the power to be able to help these situations should certainly consider it.
A new approach
Which is why, at Lumière Property, we are dedicated to contributing towards improving housing stock, alongside the government. It is also one of the reasons we do things a bit differently. Our software can identify un-used or under-used developable land. We will offer you above current market value for your home or land. We also pay all the costs of the process. You don’t have to worry about estate agent fees or legal fees. You benefit from a better way to sell your home, while helping us, in turn, contribute towards getting young people on the property ladder.
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.To read the full article on NIMBY (“Not in my back garden”) please click here