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News - 5 August 2014

Labour warns that houses will be priced out of reach.

 Shadow housing minister Emma Reynolds has said that unless more homes are built, the deposit needed for an average home in six years' time will be £72,000, with the price of that house being £359,000. Homes, she said, will cost 13 times the average salary within six years, putting them out of reach of families and young people.

 
Ms Reynolds said: "While the Tories say the housing market is back on track, the truth is they've presided over the lowest level of house building since the 1920s. Ms Reynolds claims Labour councils are planning to build 862 homes a year – significantly more than Tory or Lib Dem councils.
 
Brandon Lewis, Minister for Housing and Planning, said: "This speech from Labour just isn't credible. Here's one fact they won't tell you - under the last government Britain was building fewer homes than at any time since the 1920s.” Labour's record on housing was truly appalling."
 
Stuart Coleman, Manager of the Tax Department of ABDS comments:
“Mark Carney, the Governor of the Bank of England, has said on numerous occasions that house prices are a massive threat to the UK economy and that the number of houses being built has to go up to meet the demand.”
 
If you need any help and advice for your business on the implications of central and local Government Funding initiatives and the construction industry, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
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Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
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