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Young couples unable to afford larger property

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WQ.97/2023

WRITTEN QUESTION TO THE MINISTER FOR HOUSING AND COMMUNITIES BY DEPUTY C.D . CURTIS OF ST. HELIER CENTRAL

QUESTION SUBMITTED ON MONDAY 6th MARCH 2023

ANSWER TO BE TABLED ON MONDAY 13th MARCH 2023

Question

“Will the Minister advise whether he has considered the position of young couples who have managed to purchase a one-bedroom flat, but cannot afford to move to a larger property due to high prices, and wish to start a family; and will he provide details on any planned work aimed at empowering young people in this situation to upsize their property?”

Answer

As Minister for Housing and Communities, I am acutely aware of the housing challenges faced by young people. Unfortunately, this issue is not a problem isolated to Jersey. Economic changes have impacted on the lending environment, creating a wider affordability gap. Nevertheless, I want to give hope to Islanders, particularly young people who want to remain in Jersey. I have, therefore, tasked officers to think creatively in proposing assisted purchase schemes. I am in discussions with our Chief Economist about such schemes; I want to ensure the policy I publish is workable within the current economic climate.

We also have housing supply identified in Bridging Island Plan of 4,000 homes, around 1,500 of which will be affordable homes on rezoned sites. These sites will provide larger, affordable family homes.

Supporting more housing options for young people is important to me. That’s why I am also committed to reducing the entry age for the Gateway down to 25.