England’s housing market is broken, the government has admitted, with home ownership a “distant dream” for young families, as it unveiled a white paper promising a fresh wave of home building.
The communities secretary, Sajid Javid, told the House of Commons that average house prices had jumped to 7.5 times average incomes and rents in many places swallowed more than half of take-home pay.
Redrow has slammed the housing white paper as “disappointing”, as it announced record results and acquired another housebuilder.
Its pre-tax profit increased 35pc to £140m in the six months to December 31, and revenue rose 23pc to a first half record of £739m. It also boosted the number of homes it built in that period by 13pc, completing on 2,459 properties.
The row over Tory MPs who voted against a bid to ensure all homes let to private tenants were “fit for human habitation” has taken a new twist.
This is because it has been revealed other parties also have MPs who are landlords and who did not vote for the proposal.
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