What the papers said about election promises and home ownership

With the general election drawing closer, the weekend’s financial press looked at the various political manifestos and the potential impact they could have on our personal finances. All three parties have pledged to boost the housing supply by 2022, including provisions for social housing. Experts have expressed doubts, however, that the numbers promised so far will be anything other than ‘business as usual’, according to the Financial Times. The Guardian highlighted a recent report by The Resolution Foundation, which revealed that homeownership among people aged between 25 and 34 has dropped across the country, in some cases by as much as 30% since 1994. Analysts say the main parties need to go a lot further to ensure that we significantly increase the house building rate in the UK and ensure more young families can afford to buy a home. The midweek press looked at homeowners looking to sell their property. Estate agents urged sellers not to put off selling their property until after the election, according to the Daily Mail, as the summer is traditionally the most difficult time of year to do so. The Daily Mirror reported on recent research which found that more than 20% of sellers would accept 5% below their asking price if a buyer is ready to move quickly.