x
By using this website, you agree to our use of cookies to enhance your experience.

TODAY'S OTHER NEWS

Lack of home buying support blamed for Tory local election losses

A lack of support to help people onto the property ladder has been highlighted as one factor for the Tory party’s poor showing at the local elections last week.

The Conservative Party lost control of key councils in Barnet, Wandsworth and Westminster.

From partygate to the cost of living crisis, there were plenty of reasons why voters may be unhappy with the current regime.

Advertisement

But Housing Secretary Michael Gove suggests another factor could be at play, blaming the falling levels of homeownership.

He told The Daily Telegraph: “There is a particular challenge for us in London and I think that challenge in London relates to... home ownership. 

“There are other factors. 

“But I think that for young people in London, there is a responsibility on the incumbent government to address some of the factors that have made it more difficult for them to own their own home. That’s one lesson that I would draw at this stage.”

He also told the newspaper that it was wrong for people who are paying more for rent each month than they would on a mortgage to not be able to access home loans.

His thinking may inform some of the legislation due to be announced in The Queen’s Speech this week, where a Levelling Up and Regeneration Bill is rumoured that would give local residents more powers to decide how new homes are designed in the planning process.

Meanwhile, Gove is reported to be facing his own problems on the property ladder.

The Daily Mirror claims he has listed the home he shared with his ex-wife Sarah Vine for £400,000 below market value at just under £2.1m to get the sale “over and done with.”

They purchased the five-bedroom west London home for £2m in 2017.

icon

Please login to comment

MovePal MovePal MovePal
sign up