Housing

Making sense of the housing white paper

Young people, their faces pressed against an estate agent’s window, gaze at all the lovely homes they’ll never, ever be able to buy. That’s the image the communities minister Sajid Javid conjured up while unveiling the government’s long-awaited housing white paper week. This snapshot of young housebuyers’ despair was meant to symbolise a broken housing market where, on average, house prices are nearly eight times average salaries. ‘If we don’t act now,’ the communities minister said, ‘a whole generation could be left behind’. So what did the government propose in its white paper for England, initially intended for publication late last year and then in January 2017? More importantly, will this housing finance reform

Sajid Javid on the green belt, Brexit and his ‘homeless’ childhood

Just before Christmas, Sajid Javid performed a ritual he has observed twice a year throughout his adult life: he read the courtroom scene in The Fountainhead. To Ayn Rand fans, it’s famous: the hero declares his principles and his willingness to be imprisoned for them if need be. As a student, Javid read the passage to his now-wife, but only once — she told him she’d have nothing more to do with him if he tried it again. ‘It’s about the power of the individual,’ he says. ‘About sticking up for your beliefs, against popular opinion. Being that individual that really believes in something and goes for it.’ As Communities

What the papers say: John Bercow the ‘pipsqueak’ and Sajid Javid’s missed opportunity

John Bercow has defended his comments about Donald Trump by saying his remarks were made ‘honestly and honourably’. Today’s editorials, however, do not see it that way. ‘This time he has gone too far,’ says the Daily Mail, which calls the Speaker an ‘egotistical publicity speaker’ and a ‘pipsqueak’. The Mail goes on to say that Bercow has shown that he is far from politically neutral. It calls the Speaker – who has welcomed visitors from North Korea to Parliament – a hypocrite, and says that his ‘persistent bias’ and ‘lavish expenses’ also show that he is not an asset to the Commons. So what should Bercow do? The answer, the

Ministers take the politically safe route on housing

If a home was built for every new initiative, speech or newspaper article about “fixing the housing crisis”, our housing stock would be in much better shape than it is as a result of the past few decades of political failure on the matter. This week, there’s another attempt – the first from Theresa May’s government.  The Prime Minister made housing one of her key social justice issues when she came into Downing Street, which means that she and her advisers have taken a very close interest in the policies in the White Paper that is due this week. Those involved in the policy are insistent that unlike so many

Sort the housing crisis, or a Corbyn will win a general election

Jeremy Corbyn isn’t going to become Prime Minister. But if the housing crisis isn’t solved, the next left wing populist could—I say in The Sun this morning. Home ownership has dropped to a 30 year low and homes are becoming increasingly unaffordable. In London the average house costs 11 times earnings. Without radical reform, the Tory idea of property owning democracy will wither and, eventually, die. The government’s housing white paper due out next week is meant to try and solve these problems. Councils will be told to come up with realistic views of the housing needs of their area that take into account the growing population. If government thinks

The turf | 2 February 2017

Away from frosty Britain, lecturing my way across the Atlantic to Rio de Janeiro, life has been dominated more by Donald Trump than by Dickie Johnson with passengers seeking refuge in jokes about the new president. ‘Why does Donald Trump keep marrying foreign women?’ ‘Because there are some jobs Americans just won’t do.’ ‘What can Melania possibly see in him?’ ‘Five billion dollars and high cholesterol’ and ‘How does Donald Trump hope to get six million Mexicans back home?’ ‘Juan by Juan.’ Well, it’s either humour or take to drink. When I heard that the Jockey Club plans to sell off Kempton Park, home of the King George VI Steeplechase,

Mortgage rates are fuelling the generational wealth imbalance

At some point a few years ago, after the financial crisis had passed but the economic stats still showed the effects, while wandering down the posh bit of my local high street where all the top-end furniture retailers, Italian delis and estate agents reside, I suddenly got it. I noticed that the ones carrying the White Company, Fenwicks and Russell & Bromley shopping bags were all roughly between 50 and 60. Despite the country apparently being in the doldrums, this well-dressed, insouciant and slightly aimless tribe had money to spend. All the economic indicators were telling us GDP was still pretty flat, unemployment and wages were still struggling, food bank

May’s big chance

It is the fate of all new prime ministers to be compared with their recent predecessors. Theresa May has already been accused of being the heir to the micro-managing Gordon Brown. Her allies, meanwhile, see a new Margaret Thatcher, an uncompromising Boadicea destined to retrieve sovereignty from Europe. But perhaps a more fitting model for May would be a less recent Labour prime minister: Clement Attlee. When Labourites reminisce about Attlee, it isn’t so much the man himself who makes them misty-eyed. It is the achievements of those who worked for him — Nye Bevan, Ernest Bevin and the rest. Attlee’s government created the welfare state and the National Health

Matthew Parris

An age of bright new lights on ugly new estates

‘Trying to determine what is going on in the world by reading newspapers,’ remarked the journalist and screenwriter Ben Hecht, ‘is like trying to tell the time by watching the second hand of a clock.’ He was right, but the fault lies not with the newspapers. The problem arises from the idea of news. ‘News’ cannot see so much of what’s happening that matters. As the new year begins I’d ask you to consider a small example: the most visible change to the built environment in Britain. I’ve yet to read anything you could call a ‘splash’ on the subject, but gradually, steadily, and in time no doubt universally, we’re

Buying a second property: what you need to know for 2017

If you’re planning on buying a second property this year, then help is at hand thanks to Spectator Money. Stamp duty costs, mortgage tax relief changes and the possible impact of Brexit are just a few things to consider when buying a second home, a holiday home or a buy-to-let in 2017. Price versus Value ‘Location, location, location’. This age-old saying still speaks volumes. When searching for a property, you’ll benefit in the long run if you do your homework at the outset. Infrastructural changes have a direct knock-on effect with property prices, as does the weather and local amenities, such as roads, schools and shops. If you can search out areas that

Garden villages are a good idea. Let’s get the bulldozers rolling

There are few terms in the English language as irritating as ‘eco-village’ – which is really just ‘housing estate’ dressed up to sound more acceptable to Nimbys. Nevertheless, today’s announcement of 14 such ‘garden villages’ should be welcomed. Concentrating new homes in purpose-built new towns, villages and suburbs, where services and infrastructure are built as part of the development, upsets people who live nearby but ultimately it is the least painful way of accommodating the new homes which are so desperately needed. And this time, please, can we please get the bulldozers rolling. For years, George Osborne used to talk about new towns. But while they got stuck in the

A view of St Paul’s is the least of London’s housing problems

Richmond Park has been in the news a bit lately. It is portrayed as a bastion of wealth and privilege, whose residents stand accused of trying to lord it over ordinary voters. But never mind blocking Brexit, do the people who live there deserve the right to an uninterrupted view of St Paul’s? Outrage has greeted the construction of a 42-storey tower in Stratford, East London, which is accused of compromising the view of Wren’s great cathedral from a mound in Richmond Park. Planning permission for Manhattan Loft Gardens, which will incorporate 250 flats as well as a 145-bed hotel, was granted back in 2011. Yet no-one seemed to notice

Don’t be too quick to applaud the Chancellor’s ban on letting fees

If there’s one thing sure to get estate agents’ knickers in a twist, it’s a threat to their income. And so the news that Philip Hammond will use the Autumn Statement to announce a ban on letting fees has sparked a tirade of protestations and a bumper crop of press releases lamenting their lot. But letting agent fees have been a thorn in the side of renters for some time. Young people in particular complain that charges, such as £420 to change the name on a tenancy agreement and £330 to set up a tenancy, hamper their efforts to save for house deposit. But it’s not just the young who

Decent broadband now a ‘must-have’ for house buyers

Location, location, location is the estate agent’s mantra when asked to define what makes a property hot – or not. But these days where your house sits on the digital highway can also prove crucial to luring prospective buyers. It’s no secret that the rollout of super-fast broadband and mobile connectivity in the UK has been beset by delays – the goalposts set by successive governments have been moved several times over the years, due to various (buffering?) issues. But does being able to binge at will on the HD version of the latest TV series, or having the ability to do your entire grocery shop on a 300Mbps connection,

Britain’s troubled housing market is fuelling social immobility and resentment

‘Prefabs to solve housing crisis,’ screamed the front page of the Sunday Telegraph last weekend. Can the shortage of homes in Britain really be so bad that ministers are floating plans to encourage the first new generation of temporary, pre-packed houses since the great reconstruction drive which followed the second world war? The UK is in the midst of a housing shortage that numerous credible experts now describe as ‘chronic’ and ‘acute’. While it’s widely recognised that we need 250,000 new homes each year to meet population growth and household formation, house-building hasn’t reached that level since the late 1970s. During the Thatcher era, as fewer council houses were built,

What does Philip Hammond have planned for the autumn statement?

The City and Westminster are waiting to see what Philip Hammond does in the autumn statement next month. I write in The Sun this morning, that they are looking to see what the new Chancellor’s strategy is for guiding the economy through the uncertainty that will exist until we know what the Brexit deal is. In a private meeting with Tory MPs this week, Hammond gave some indications as to what he plans to do on November 23rd. He was clear that it won’t be a give-away statement. He warned that the deficit remains ‘eye wateringly large’, that the debt to GDP ratio is getting close to the level at

How to talk to your builder

Television has a lot to answer for. The terrible reputation of the building trade for one. But not all builders are out to wreck your house, rob you of your life-savings and leave you in need of rescue by Nick ‘DIY SOS’ Knowles, the slightly smug TV-expert builder who goes round making good the mess other builders have left behind. Then again, not all builders are honest, trustworthy and committed to doing a good job. Inviting builders – or any of the associated trades such as plumbers, heating engineers, electricians or carpenters – into your home is a modern minefield, pitted with bitter recriminations and empty bank accounts. Much of

House sellers must be realistic if they want to do a deal

After a long summer of uncertainty following the Brexit vote, data is finally dribbling in. While some of it strikes a brighter note, messages emerging from the stats are mixed. Serious sellers, especially in the prime markets, must remain realistic and flexible with pricing if they want to do a deal. Latest numbers from the Halifax showed that annual house price growth has eased to 6.9 per cent following a very slight drop of 0.2 per cent in August. This contrasts with last week’s more upbeat numbers from the Nationwide building society which revealed a pick-up in house prices in August, suggesting some resilience in the market. Neither paint the

Parents willing to pay tens of thousands more to live near a top school

I have no recollection of my first day at school. I was four-years-old so it’s not surprising that I can’t dredge up the memory. I do recall, however, refusing to return to nursery after being scared witless by Father Christmas. Back then (late 1970s), kids were dropped off at a new school and expected to get on with it. Today it’s markedly different. Ahead of my four-year-old niece’s foray into education, she has visited the school at least twice and had a couple of home visits from her teachers. Luxury! But there were still tears this morning, from daughter and mum. And I’ll be fretting all day, desperate to know how

Is the sharing economy over already? Yes, if letting companies get their way

Sitting on the lanai (balcony) sipping a beer, the wind gently rustling through the palm trees and my Hawaiian hosts’ adorable puppy licking my toes: life was sweet. I’d struck gold. I was living the Airbnb dream. David and Doug treated me like one of the family, complete with days out and home-cooked meals. Nothing was too much trouble. When they dropped me off at the airport (no extra charge), we vowed to be friends forever and I cried the whole flight home. I experienced Airbnb exactly the way it was meant to be – living like a local with the locals. But back in the UK it’s a different