Thanet, child poverty and staggering hikes in house prices… what a mess!

Margate has seen house prices soar by 55 per cent over the past 10 years

We are indebted to the local media for two stories highlighting some of the many issues affecting Thanet.
The district is usually at the wrong end of socio-economic statistics, so it comes as no surprise to learn it has the highest proportion of children living in poverty in the county, even taking into account a 4 per cent fall on the previous year (2017-18).
The figure of 35 per cent equates to a staggering one child in three (some 11,500) living below the breadline in Thanet, the Kent Messenger Group reports.
This compares with a Kent average of 28 per cent and figures from the ‘right’ end of the table: Tunbridge Wells (22 per cent) and Sevenoaks (23 per cent).
Now consider the issue of rising property prices in Thanet – indeed the entire Kent coast, where it costs an average of £150,000 more to buy a home than it did 10 years ago.
House prices across Thanet rose by an average of 48 per cent over the past decade; in apparently trendy Margate, the hike was 55 per cent, from £151,520 to £235,012.
The spiralling increase is, of course, fired largely by London and puts the prospect of local people buying their first home ever-further out of reach.
It is against such a backdrop that the government’s much-criticised housing methodology is anticipated to produce an Objectively Assessed Need (OAN) of 17,140 new homes in Thanet between 2016 and 2031.
It is a number that is highly unlikely to be fulfilled; in the region of 8,500 homes were built in the past 20 years, so the rate would need to more than double for the OAN to be achieved.
And when such a shortfall occurs, a local authority is unable to demonstrate a five-year housing supply, leaving the door wide open for speculative developers to try their luck at just about anything, no matter how inappropriate or undesirable.
There is a growing belief among some commentators that the ludicrous housing targets being imposed on some (but by no means all) local authorities are designed to do just that: effectively put planning powers in the hands of developers. Or is that a conspiracy theory too far?
CPRE Kent has long advocated the building of social housing for local people, highlighting the fact that developers’ keenness to put up four- and five-bedroom houses at prices beyond the wildest dreams of many is going to do precious little to ease the much-reported ‘housing crisis’.
Thanet residents concerned at the manner in which property prices are being skewed are often told of the ‘trickle-down effect’: the notion that an influx of cash-rich newcomers shares the posterity far and wide.
The idea would in truth seem to hold little truth, at least if those child poverty figures are anything to go by.

  • The saga of Thanet planning rarely makes uplifting reading, but for more see here, here, here, here and here

Monday, June 10, 2019

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