Government Not Doing Enough
To End Housing Shortage
A recent study by the Royal Institute of Chartered Surveyors (RICS) has shown that the Government still are not doing enough to alleviate the chronic shortage of residential housing in the UK.
The Royal Institute of Chartered Surveyors have again stated that successive governments have failed to produce a coherent long-term strategy for UK housing.
The RICS housing commission may concede that some of the coalition government’s policies are producing short-term help for the UK house building industry but they are prepared to argue that successive ministers’ lack of consistency in policy over the past 50 years has exacerbated the failures of the UK property market.
The Royal Institute of Chartered Surveyors think that current Government housing policies are merely clearing up the problems left by their Labour party predecessors, and current government ministers are struggling to find a viable alternative solution to the current housing shortage.
The RICS study concluded that the UK housing market is still massively over-subscribed and the Government has not delivered enough affordable homes for the British public to live in.
However, RICS have welcomed the government incentive to aid first time buyers (FTB) get on the property ladder through the ‘Help to Buy’ scheme, which lends first time property purchasers up to 20% of the value of a new-build residential property.
However, the organisation has called for further Government action to increase the overall supply of residential properties, in order to meet the current demand, never mind future requirements.
The RICS housing commission report has recommended doubling the current target to build at least 100,000 new residential properties on publicly-owned land and former brown field sites within urban areas. RICS also want house builders to be made to start work within three years of acquiring the necessary planning permissions for construction of residential properties.
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