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Government White Paper describes 'affordable' homes as 20% below market values, ONS says 4x regional salary

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So why do cabinet ministers see affordable homes defined as "20%" below market valuations, whereas that ONS report a year or so ago, that described 97% of UK towns as now unaffordable, based on local valuations compared to 4-5x local single or combined salaries?  I can't paste the link here as the forum android support is still broken on the site, if someone else can do it, entitled "housing summary analysis measures: 2015" on ONS.gov.UK, population and people section, published online. Also, since many of the big developers are given exclusive access to new transport provisions like the DLR, tramways, crossrail, that are heavily subsidised by general taxpayers who will never afford these developments, do you consider the white paper a form of"trolling"?

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The cynic in me says that it's because four times salary means no homes at all.  20% under valuation still gives a tidy profit after the ongoing, rampant house price spikes.

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20% down from now probably means the banks balance sheets till make them look solvent.

It's all about the bankers.

Want to stop this madness then you need to stop the bankers.

The bankers wont bve stopped till the 2nd collapse and public are stood with ropes and wood.

 

 

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It might be something to do with the Help to Buy percentage - take off HtB and what's left is the affordable price?

It's not necessarily affordable of course but it might be the way their mind is working.  That is if it didn't need HtB then it must have been affordable.

Prices were crazy even before HtB - HtB just made them mega crazy.

Take off 50% then they're starting to talk.

Edited by billybong

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affordable, 20% discount??? Meaningless twaddle. These schemes have boomers sat in £1m houses that they bought for £30k in mind not struggling potential buyers. They are designed to make boomers feel less guilty knowing youngsters are being provided with "affordable" housing...and all is well.

total bollards.

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For affordable to mean "20% below market value" is positively Orwellian. Utter, utter tosh.

A multiple of the average local salary is, of course, correct and relates to how actual work might buy an actual home in an actual town or city. But the multiples are now so ridiculous in much of country (and they are so insane in London and the South) that I can see why there is absolutely no way the government could use them. 

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In my area the local parish council boomers referred to a requirement for local housing with <sneer> affordable housing as though it was something on the bottom of a shoe. I stood and asked how affordable is 9 times average local salary, Followed by how couples on six-figure combined incomes cannot afford a four bedroom house. 85% of the 50 or so people in the room were >55, but it did get a smatter of applause. This is over an hour fast train out of London mainline, so not Zone x. Had enough. 

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