Due to such low levels of affordable new homes means that many young people are priced out of housing market, particularly buying a home.
Theresa May has pledged an extra £2bn to put the government back in the business of building new houses but officials admitted that the money would pay for only an extra 25,000 homes. Where as housing associations and private developers construction of affordable homes is currently running at 40,000 new homes.
It’s clear the government aren’t doing enough to solve this housing crisis, especially when it comes to social housing. It means that more and more people are turning to private renting as a temporary solution, but the quality of the private renting sector is a concern and un-regulated.
Tenants are vulnerable and are being taken advantage of by letting agents with their extortionate fee’s and poor service. The government are aware of this, but are too slow to act. The government has explained why the ban on letting agents’ fees on tenants will not be implemented until spring 2019 – because it will take a substantial period for the legislation to get through parliament.