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FJP Investment revealed their new case study today on solving the UK Housing Market Crisis. This case study demonstrates that the UK Could Solve The Next 10 Years Worth of House Building simply by having a reshuffle.
The case study also made it obvious that 6.2 Million Bedrooms Could Be Freed Up Throughout The UK.
They are called the Last Time Buyers – Those aged over 55 and own their own homes and have two or more empty bedrooms. Combined, this segment represents 3.1 million households in the United Kingdom and hold a projected £1 trillion of housing stock. They are according to research carried out by FJP Investment, the key to unlocking the housing crisis for younger people.
Most of the governments policy is targeted at first-time buyers seeking to gain a first step onto the housing ladder. While this an honourable approach it does fail to take into account the vast amount of housing if those at the top of the ladder had the opportunity or indeed the incentive to budge.
The situation is terrible and the UK has a serious demand to build more homes in order to maintain the demand. But, there is a simple solution and if we were to free up housing stock from those aged over 55 with 2 or more free bedrooms, we would not need to build anymore property for the next 10 years.
The contribution would be huge and is an appropriate way of easing the housing crisis. If all of those aged over 55 with two or more empty bedrooms were to downsize today, we would provide an addition 6.2 million bedrooms, the equivalent of 2 million 3 bedroom family homes, the best part of 10 years worth of housebuilding.
The benefits for those considering downsizing is that they would cut their costs and experience a range of health, financial and social benefits. By having a reshuffle, of those need the bigger properties for those needing the smaller properties we could solve this issue. If the scheme was incentivised it could be a winner.
Another suggestion is to build more single level properties, bungalows close to shops, healthcare and in areas of which there are high numbers of those aged 55 and above with more than two bedrooms empty. This will encourage the natural sale of the property and the desire to downsize alone. Perhaps even introducing waivers on stamp duty for those aged 55 when they are downsizing. Giving a tax break to the already wealthy might not be politically popular, but it sure would get the housing market moving.
FJP Investment owner Jamie Johnson says there are many people looking for insights and answers about UK Housing Market. This case study reveals in a practical way what’s possible when considering the data and going about the situation in a pragmatic manner.
Further research material can be accessed at https://www.fjpinvestment.co.uk/.
About FJP Investment
FJP Investment was founded in 2013 and serves the Property Investment industry. It is known for sourcing high yielding property investment opportunities for both UK and Overseas property investors.
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