Could The Return Of Council Homes Help Solve Affordable Housing Crisis?

Councils are returning to house-building for the first time in decades to address the affordable accommodation shortage that big developers have failed to resolve. Government figures show that none of the local authorities in Suffolk and north Essex - other than Ipswich - had delivered any council housing since 2014 when records were first collated. Most new homes in the region - around 85% - have been delivered by commercial developers, with the remainder built by housing associations. But despite a more than 50% increase in the rate of house building since 2014/15 - the region remains far behind government set targets. Read more on the East Anglian Daily Times website.

https://www.eadt.co.uk/news/suffolk-and-essex-council-home-revival-1-6392407

Buying Is Cheaper Than Renting - For Now

First-time buyers now save £1,300 a year by taking out a mortgage rather than renting, according to Britain's biggest lender, the Halifax. Based on a three-bedroom house, the average first-time buyer pays £677 a month. The average rent paid on the same-sized property is £787, giving owners a monthly saving of £110. But experts warn historically low mortgage rates would not have to rise by much for the reverse to be true. The report says, at present, buying is cheaper than renting in all regions, except the East Midlands and East Anglia. Read more on the BBC website.