Member

In areas such as mine, and in many constituencies across the country, we want more affordable houses to be built, but that is not what the formula delivers because often—not exclusively, but disproportionately—it is more attractive to developers to build larger, five-bedroom executive houses. That, combined with the fact that overall new build homes trade at a premium to the existing housing stock, means that the unaffordability of an area gets worse as a result of the formula, not better.