Green Party: ‘Ordinary Londoners are being burned by the overheating real estate market’
PROPERTY prices are rising at unsustainably high rates, says the London Green Party, which says that ordinary Londoners are being priced out and is calling for the building of more affordable homes and ‘smart’ controls to stabilise sky-rocketing rents.
The speed UK property prices are rising at is “approaching madness”, analysts have warned, after data released today showed house prices jumped 2.4% in the UK in February, the biggest monthly increase in five years. The rise, revealed in the latest Halifax House Price Index, outstripped experts’ expectations of a 0.7% rise. Nowhere are rises more meteoric than in east London, home of the house price bubble.
Charlotte George, Target Ward Candidate in Hackney, said:
“Ordinary Londoners are being burned by the overheating real estate market in London and urgent action must be taken to cool down this unsustainable frenzy. The Green Party puts Londoners before investors.”
The London Green Party, which recently released the hard-hitting ‘Crumbs for London’ report into housing, is calling on the current and future governments to put the need for a home before the desire of investors for profits by building more genuinely affordable housing and introducing greater security of tenure and smart rent controls for tenants in private rentals.