Homes in Hammersmith and Fulham are now only affordable by the very few. (Hammersmith and Fulham Liberal Democrats)

Hammersmith and Fulham Liberal Democrats <info@hflibdems.org.uk>

Homes in Hammersmith and Fulham are now only affordable by the very few.

April 11, 2010 3:12 PM

Merlene comments on the news that according to a recent survey house prices in Hammersmith and Fulham rose by 22 % in the last year, to take the cost of the average home in Hammersmith and Fulham to over £ 497,000.

"There are clearly market forces at work pushing up property prices in the borough. The weakness of sterling caused by Labour's quantitative easing has also enticed more foreign money to compete for our limited supply. This is all the more reason why we need to increase the supply of affordable housing. The Tories in H&F fail to understand the social costs of forcing more households into overcrowded accommodation, which has resulted in the further widening of the wealth and heath gap within the borough."

Local news website www.shepherdsbushW12.com reports a Nationwide Building Society survey, showing that H&F house prices rose faster than anywhere else in Britain, and that and prices in the borough are the third highest in London.

Meanwhile Stephen Greenhalgh, leader of the council continues to advocate reducing the proportion of social housing available in the borough, and would like to increase social housing rents to near market levels.