Finally a dose of reality from the government on the damage mass migration has had on the prospects of those seeking to own their own home.
Housing Minister Dominic Raab told The Sunday Times that: “Based on the ONS data, the advice to me from the department is that in the last 25 years we have seen immigration put house prices up by something like 20%.”
He also acknowledged how demand for housing in Britain had been fuelled by record-high levels of immigration: “You’ve got to deal with demand as well as supply. You can’t have housing taken out of the debate around immigration. If we delivered on the government’s target of reducing immigration to the tens of thousands every year, that would have a material impact on the number of homes we need to build every year.”
He is writing to the Migration Advisory Committee and will highlighting such issues to them.
It is finally an acknowledgement from the government that such ridiculously high levels of migration has met surging demand for limited housing stock, damaging the prospects of home ownership for so many in Britain.
The solution is to now radically reduce levels of migration so that young Brits can once again hope to own their own homes. Supply and demand – time to slash the demand side if the equation down to sensible levels.