'Bridget Jones' generation in need of homes in Hammersmith and Fulham
Published by Max Salsbury for 24dash.com in Housing and also in Communities, Local Government
A 'Bridget Jones' generation is in need of housing in Hammersmith and Fulham.
H&F Council says that it is time to give the generation of "upwardly mobile, unmarried, childless and flat-renting professionals” a 'hand-up' into home ownership.
The council claims that the majority of Hammersmith and Fulham's adult population fits the 'Bridget Jones' description, and is backing the Mayor of London’s calls for the £1.3billion raised every year through stamp duty in the capital to stay in London and be ploughed into a massive new wave of local house-building.
Cllr Nicholas Botterill, H&F Council Leader, said: “The new Bridget Jones generation has a serious housing problem. Many people rent a place and live the single life for a while but when the time comes to get married, have a child and settle down in a home that you own many people on low and middle incomes are simply priced out of the area.
“We need to kick start house-building in London to give the new Bridget Jones generation a hand-up into home ownership.”
The proportion of full-time female workers in H&F is now the second highest in England and Wales at 36 percent, while the number of working age people (16-64) is 13 percent higher than a decade ago.
The number of elderly people has decreased by five percent while the amount of owner occupiers has fallen by eight percent.
The area has seen a 10 percent rise in the number of people renting privately since 2001.
H&F has the fourth highest house prices in Britain and, according to the council, some of the most satisfied residents in the UK - but many residents who would like to own their own homes are currently being priced out of the west London housing market.
Just over two percent of the borough’s housing stock is currently 'intermediate' low cost homes to buy - while nearly a third is social rented.
The council already has a register of 4,700 struggling young buyers who are interested in buying low-cost homes.
Cllr Botterill continued: “Average house prices in west and central London are well out of reach for many hard working families and we need to find ways to build more low cost homes to buy if we want to stop west London becoming an area dominated by young nomads.
“A lack of supply and high demand across the capital means house prices have doubled over the past ten years. The council is doing everything it can to ease the pressure on low and middle income earners, who want to buy a place of their own, and we are set to build up to 500 new homes on council land over the next ten years. We are doing our best as a local authority but what we really need is a turbo-charged London-wide programme to accelerate the number of new homes that we are building.”