What price for a place to call home?

We are regularly seeing headlines saying there is a national housing crisis and the Government is pledged to increasing supply. One of the ways they are doing that is to raise the targets for many local authorities, and Bath and North East Somerset is one of those, with the district being challenged to deliver about 30,000 homes – double the number previously envisioned.

Putting to one side the issue of finding enough construction workers to build so many homes, the political dimension of finding enough sites looks daunting and there are already pockets of objectors who are unhappy at the prospect of new development where they live.

If we are to get anywhere near the target there will have to be a shift in the hearts and minds of existing residents. The Council Cabinet is already grappling with the issues and they considered a report at their last meeting which set the context, which is worth examining because it contains some shocking information.

The report estimated that the current house price to earnings ratio is 13:1, which means that nearly three quarters of would-be first time buyers can’t afford the smallest of houses.

There are almost 5,000 people on the Homesearch waiting list, of which those regarded as “high priority” in 2023 were waiting almost 18 months for a home. If you were “non urgent” you’d be looking at four years.

Surely in a civilised society that can’t be right ? I suspect the majority of people would support the concept of more housing, but they are nervous about the additional impact on the environment, on the World Heritage Site and on infrastructure – all perfectly legitimate concerns. But there is a balance to be found and I don’t envy the politicians who will have to find it.

The Council says it is resolved to release more land for housing, to unlock affordable housing and develop an offer that is accessible and attractive, reduce homelessness and ensure residents have safe, warm and accessible homes.

They are considering a Corporate Landlord Asset Review, which could include the direct acquisition of suitable land or properties and they will be looking at converting office space to residential use as council homes.

That sounds like a good start but it is certain to cause controversy. We will need courageous leadership to see this through, but the right decisions now can make a start to averting our local housing crisis and that will be good news for the economy and the community as a whole.

If you’d like to find out more about the Bath Chamber of Commerce or the Initiative in B&NES please contact us on 01225 460 655 or info@bathchamber.co.uk