Jim Fitzpatrick: We must provide more homes
COMMENTBy Jim Fitzpartick
It's safe to say that if the country is in the midst of a housing crisis, we're bearing the brunt of it.
In Tower Hamlets the average home now costs almost £400,000, that's £228,000 more than the national average and 13 times the average pay in the borough.
If you're renting then the average yearly rent can easily take up to 70% of family earnings, which makes saving for a deposit near impossible.
We can all agree action is needed now to provide for this generation and the next.
Across the country, in London and in Tower Hamlets this means bricks and mortar. Increasing the supply will bring down the price.
The good news is political parties are waking up to this fact with each of them making big promises on housing.
The Labour Party has made it clear where we stand and I'm supporting action that will mean more affordable housing in Tower Hamlets and importantly social housing to make a dent in the borough's massive waiting list.
I also agree we must do everything we can for those renting, which means cracking down on rogue landlords and extortionate service charges so people can afford to move up the ladder when the time's right. We need better leasehold protection too.
If we carry on as we are, by 2020 there will be two million too few homes in Britain and many more people will be struggling to find a suitable place to live.
We're at a critical point where we can act now or face the consequences later.
■ Jim Fitzpatrick is MP for Poplar and Limehouse