The Government have been accused of “failing” young people and families after it emerged that nearly half a million new homes proposed for development on Green Belt land will not be “affordable”, but will be built for the “top end of the market.”
Over 70 per cent of the 425,000 new homes expected to be built under regional planning policies will not be accessible for those struggling to get onto the housing ladder.
If there’re half a million new homes then all homes will be worth slightly less, won’t they? Less than they would be in the absence of half a million new homes at least. That’s just how markets work, increase supply at a constant demand and prices fall.