Mortgage News
Shapps calls for house price stability
Housing Minister Grant Shapps has said that he wants to stabilize the housing market to make properties more affordable to more people.
Speaking on the BBC’s Today Programme on Jan 3, he said that it was “crazy” to see unaffordable house prices as normal.
“It’s crazy that we think in this country it’s normal to have a situation where the most important thing – a roof over somebody’s head – is so unaffordable to such a large number of our fellow citizens,” he said.
Shapps expressed his hope that house prices will become more affordable in the long term.
He said: “It would perhaps be desirable if house prices didn’t do too much at all in the long term. Over a longer period of time, that would allow average earnings to catch up and allow housing to become a more affordable commodity.”
He added: “I think it would be a desirable thing to have a stable housing market.”
Episode 2: Affordability : Powered by Partnership podcast from Newcastle for Intermediaries
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