“Utterly unsustainable” – Plaid blasts government inaction over housing crisis as Wales sees biggest increase in house prices in UK
Wales has seen the biggest increase in house prices in the UK
Responding to new figures from Rightmove that show that Wales has seen the biggest increase in house prices in the UK, Plaid Cymru Housing Spokesperson Mabon ap Gwynfor MS said,
“If we needed further proof that Wales is in the middle of a housing crisis then this is it.
“Wales has seen a 2.3% rise in house prices in the past month alone and a 10.9% increase year-on-year overall. People are being priced out of their communities at an alarming pace.
“And it’s not just rural and coastal Wales. It’s the valleys too. Median gross weekly earnings in Torfaen, for example, is just £554.58 but has seen one of the highest sale rates at 80%. Meanwhile, young people are expected to place thousands of pounds in down payments just to stand a chance of purchasing their first home in their local community. It’s unrealistic, unfair, and utterly unsustainable.
“The housing market simply doesn’t reflect the ability of local people to buy homes in their communities. The Government can no longer bury their heads in the sand or hide being long drawn out "consultations" or "pilot schemes". We need urgent intervention - fast - to regulate the market and tackle this crisis once and for all, for the sake of our communities and their futures.