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The families who have
been living under canvas in Worcester all week have only one
more night to wait. By this time tomorrow they should have
pocketed the keys to the former army homes being sold for around
£125,000 - some £25,000 less than the market price.
This vignette says everything about the British property market,
not least that £125,000 is now considered a knock-down price.
What it shows is that demand exceeds supply, and that people are
prepared to go to almost any lengths to secure a toehold on the
housing ladder.
It was to address this mismatch that the government commissioned
the report into housing supply by Kate Barker. Her conclusion
was that unless more homes are built property prices will
continue to rise more rapidly than incomes, thereby putting
house purchase out of reach for more families.
Predictably, the report has met with fury from the conservation
lobby. The impression given by Max Hastings, among others, is
that Barker represents the biggest threat to rural Britain since
the Black Death, and that if the government follows her
recommendations the result will be the transformation of
England, south of a line from the Wash to the Severn, into an
amorphous estate.
Credit where credit's due to Max. It takes real chutzpah to be
pictured by the Sunday Times lolling against the gates of your
country estate while asking insouciantly: "Do we not owe it
to our descendants to check our obsession with house-ownership
before it devastates what is left of rural England?"
The fact is that the report suggests no such thing. It
recognises that the environmental constraints on unrestricted
building call for the right mix of greenfield and brownfield
development, and suggests that the overall acreage of green-belt
land could be retained.
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