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The Times recently reported that average UK house prices could reach around £440,000 by 2030. Do you think the government is doing enough to make housing affordable – or do we need to build more homes, even if that means using more land?

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00:00The Times recently reported that average UK house prices could reach around £440,000 by 2030.
00:07Given the promises on housing that Keir Starmer's Labour Party made when they came into government in 2024,
00:12we asked politics and economics expert Steve McCabe if this report conflicts with their figures
00:17or if the government are going to have to do some extra work to hit their targets.
00:21Housing is undoubtedly an issue that concerns a lot of people, particularly the young,
00:26who find it very difficult to get on the so-called housing ladder and, of course, it's called that
00:30because you start at the bottom and you work your way up, something which certainly when I was going up
00:35was perfectly possible even on sort of moderate income.
00:38Now, of course, we've got this difficulty where house prices have sort of gone up,
00:42where a run of two wages or wages have sort of remained fairly stagnant in recent years and it's become a problem.
00:48Although, having said that, to add that in recent years and we're talking about the last couple of years,
00:53house prices have remained broadly sort of stagnant, inflation has gone up as, of course,
00:58a consequence of that. Wages have also gone up.
01:00So, of course, there's been a little bit of the lessening of the gap,
01:04but undoubtedly it still remains a very big problem for many sort of people who'd like to own their own homes,
01:09to start families and so on and so forth.
01:11The current government, under Starmer, came in proclaiming they were going to sort of revolutionise house building
01:17and they had the target of 1.5 million houses by the end of the parliament.
01:21I can safely say that is not going to happen on the sort of the current rate of output.
01:26The most recent statistics I looked at was something like 140,000 a year.
01:29So, it would take you 10 years even to get to 1.4 million.
01:32That is not enough, in my opinion.
01:35There's also sort of reports of sort of major big producers.
01:38They are sort of closing down production facilities in anticipation of sort of harder times.
01:43All in all, it's a difficult sort of time.
01:45We do need a sort of a major sort of input of new houses.
01:49There is also sort of the belief that many of our houses are sort of spacious for certain,
01:55but cold and drafty, which of course means our sort of far fuel prices go up.
01:58And of course, this doesn't actually align with the sort of the fact that we need to get our houses being much more fuel efficient
02:03in anticipation of sort of a greener economy and using less gas electricity.
02:07And indeed, of course, we've been told eventually there will be no gas.
02:10It will all be sort of electric.
02:11So, there is a sort of a major problem in this.
02:15And it's a part or a very vital part of our infrastructure.
02:18And where we live, we spend a fair proportion of our time.
02:20We need to sort of rethink it.
02:22But of course, you know, this is in sort of almost the realms of fantasy.
02:25You know, if you wanted to get to a better position, perhaps the sort of thing is don't start from here.
02:29You know, if you want to get to a better position, you know, if you want to get to a better position,
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