General Election 2017: What can Theresa May actually do for Generation Rent?

General Election 2017: What can Theresa May actually do for Generation Rent?

In their General Election 2017 manifesto, the Conservative Party has pledged to build more council homes and to introduce a new Right to Buy scheme to help thousands get onto the property ladder.

In an attempt to help thousands of those called Generation Rent to make the first step onto the housing ladder, Theresa May has announced that local councils and housing associations will gain greater powers to build new council homes.

UK house prices in the lead-up to the General Election

Some of those council homes will also be earmarked for sale within 10 to 15 years under the Right to Buy scheme.

In a statement, the Prime Minister explained that her party will repair the broken housing market and give support to local councils and housing associations to build new council homes across the UK.

She then said:

“Giving tenants a new right to buy these homes when they go on the market will help thousands of people get on the first rung of the housing ladder, and fixed terms will make sure money is reinvested so we have a constant supply of new homes for social rent.”

The party’s aim is to make it less difficult for councils to buy land to then build new houses on. In addition to that, they also aim to make it easier for councile to receive funding for their projects.

It could take Generation Rent up to 59 years to make it onto the property ladder

The latest figures from an ORB opinion poll put together for the Telegraph and published over the weekend put the Conservative Party well ahead of Labour. And this only weeks ahead of the General Election on June 8.

The poll of more than 1,500 voters confirmed the Conservatives string lead with 46% of the votes whilst Labour only managed to gain 32%.

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