The news that Barclays is projecting a 25% increase in the value of houses in Glasgow’s suburbs over the next five years will doubtless be celebrated as good news by many of the usual housing industry and economic commentators on these issues.
However, we mustn’t lose sight of the fact that rocketing house prices only widen the gulf between the housing haves and have nots. They are yet another sign that our housing crisis is not going away any time soon.
Over the last 40 years rising house prices that far outstrip inflation and average wage growth have been a windfall for those fortunate enough to own their own home, but have pushed this aspiration further out of reach for first time buyers.
Those on low to average incomes and the young now face stagnating wages, high rents, a shortage of social housing and the prospect of saving well in to their late 30s or 40s just to be able to afford a deposit on a house that likely may not be paid off by the time they retire. This is only storing up big problems for future generations.
Shelter Scotland believes we must urgently look at our whole housing system to ensure it offers genuine choice for all of us at every stage in our lives. We need a private rented sector that offers good quality, affordable homes on fair terms. Above all we need a real step change in the supply of genuinely affordable homes available for social rent in places people want to live. These steps would help ease wider pressure in our housing system and make it easier for more people to secure an affordable home.
Head of Communications and Policy