West Yorkshire Combined Authority Chair Cllr Peter Box has highlighted that making affordable housing available for young people is a key objective for the Combined Authority’s main objectives.
Responding to a report by insurance company Aviva that a million more young people are likely to find themselves living with their parents over the next decade, West Yorkshire Combined Authority Chair, Cllr Peter Box said: “This and other predictions about the problems young people are going to face is exactly why the West Yorkshire Combined Authority has the development of affordable housing as one of its key aims, alongside growing business, creating jobs, providing access to training and skills and improving transport.
“As well helping them to access training, apprenticeships and job opportunities, we also believe young people across the Leeds City Region should have the opportunity to get a foothold on the property ladder.”
Aviva claimed a million more young people could have to live with their parents over the next decade to save enough for a deposit to buy their own home. The company Aviva has estimated that 3.8 million people aged between 21 and 34 could be living in the family home by 2025, up from 2.8 million in 2015.
It said rising house prices are making it increasingly difficult for young people to get on to the property ladder, with average UK house prices having risen more than 50% to £279,000 between 2005 and 2015.
Cllr Box said: “Through the Leeds City Region Growth Deal, we are already progressing schemes that will bring derelict land back into use and encourage the private sector to invest. Developing Housing Growth Areas is an element of the Infrastructure for Growth section of our recently revised Strategic Economic Plan.
“One scheme, the Wakefield Eastern Relief Road which is due to open in spring 2017, will make possible the development 2,500 new homes as well as helping local businesses to grow and new, good-quality jobs to be created.”
Find out more about the revised Strategic Economic Plan.