How will housing affect the results of the next general election?

Alex Johnson

Woolverstone House 010 300x200 How will housing affect the results of the next general election?Steve Akehurst from Shelter’s policy and campaigning team suggests housing could be a particularly important role in marginal seats at the next general election since many of them suffer from the worst waiting times in terms of saving to get on the housing ladder.

His thoughts come as the Office for National Statistics today releases figures showing that between May 2012 and May 2013 private rental prices in Britain grew by 1.3%.

Akehurst points out that in Stevenage and Watford -  important seats for Labour and the Conservatives – young couples planning to start a family face 14.5 years of saving before they can afford to buy. It’s only slightly less in other important marginals such as Bristol North-West (13.5 years) and Lib Dem-Conservative battlegrounds such as Camborne, St Ives, St Austell and North Cornwall (16.5 years).

“There remains,” he says, “a huge unclaimed electoral opportunity in speaking to the aspirations and anxieties not just of the next generation but of their parents too, and the concerns for their children’s prospects. It will be interesting to see if anyone makes this territory their own in time for 2015.”

Generation Rent in East London
The latest research from Rentonomy, the London rental website, shows that East London has seen the greatest expansion of “Generation Rent” in the capital.

Director of Research David Butler said: “Our analysis of census data over 10 years shows that there has been a huge expansion of private renters and people in their twenties in east London, particularly around the Olympic site in Stratford, E15.

“The buy-to-let boom which raged from 2000 to 2008 and the building explosion that followed London’s successful Olympic bid in 2005 helped fuel the growth of private rented sector whilst rising house prices forced more and more to rent. At the individual level, people have been attracted to areas of relatively low rents and good transport accessibility. Both of these are in abundance in Canning Town, Stratford, Whitechapel, Dalston and Bethnal Green, the areas with the highest combined growth of private renters and young people”

Designed by Edwin Lutyens

Strutt and Parker are marketing a rather nice Grade II Lutyens-designed home, Woolverstone House in Suffolk (pictured above). It comes with 10 bedrooms, four receptions, gym, tennis court, swimming pool and lovely grounds, as well as a working bell tower. The house was commissioned at the end of the 19th century by Lord Berners and was completed in 1901. Yours for £2.75m.

Remortgage lending breaks records

May remortgage lending rose to £3.9bn, up 17% on April’s £3.4bn and up 37.2% since the beginning of the year making it also the highest it has been since October 2012. Total gross mortgage lending is also up 21% to £14.7bn. Andy Knee, Chief Executive of LMS said: “May marks yet another month of growth for the remortgage sector. The average loan per person is at an all-time high, with an average of £19,325 being released to spend of paying off debts or to supplement income. We have seen a brilliant start to the year and we expect it to continue as the Funding for Lending Scheme continues to encourage competitive rates for remortgage customers.”

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