1 – “Priced Out is the national campaign for affordable house prices. The campaign aims to: Raise awareness of the problem, Push for change, Challenge assumptions, and Represent those affected.”
1.a - Affordable = we will know that we have reached affordability when the average price of a home equals no more than 5 times the average salary.
1.1 - “Raise awareness of the problem” and “Challenge assumptions”
We will use our website, physical protests, press and media contacts, as well as representations to local and national government departments and officers to publicise the problems that un-affordable house prices inflict on individuals and society.
1.2 - “Push for change”
We will use our website, physical protests, press and media contacts, as well as representations to local and national government departments and officers to bring about both an easing of demand and a promotion of supply which will allow house prices to become affordable over the medium term.
1.3 - “Represent those affected”
A huge swathe of people in the UK cannot afford to buy the homes they deserve because house prices are un-affordable. Others cannot save what they need to for later in life. Others cannot conduct their lives how they would wish to because un-affordable house prices exert a negative influence.
A key aim of Priced Out is to encourage these people to reject this way of life as politically unacceptable. By creating government petitions, holding demonstration events, maintaining a membership database etc. Priced Out offers an outlet to those affected to have their say on the issue. We also make sure that people forced into tenancy when they would otherwise buy a home for themselves, know and exercise their rights by making available facts and assistance via our website.
2 – “Current house prices are set by the market mechanism of matching supply to demand. We campaign for lower market prices, and this means campaigning for greater housing supply, and campaigning for a reduction in frivolous or profiteering housing demand. This also means campaigning for the factors which will lead to greater housing supply, and the factors which will lead to a reduction in frivolous or profiteering housing demand.”
2.a - Greater housing supply = this means building or making available a greater number of housing units. This includes domestic property built by private and state providers.
2.b - Frivolous housing demand = by this we mean holiday homes and multiple property ownership
2.c - Profiteering housing demand = we accept that some rented accommodation is required in the market, but we do not support increasing the provision of private rented accommodation when that has the effect of pricing out ordinary decent people who want the security of owner-occupation.
2.d - Factors which will lead to greater housing supply = changing trends in land ownership, influencing land use, changing government housing and planning policy, incentivising building companies to accelerate their use of their land banks, moving housing policy up the agenda of all mainstream UK political parties
2.e - Factors which will lead to a reduction in frivolous housing demand = changing the tax rules associated with holiday homes. This item is not anticipated to be at the top of our agenda, but it does remain on the list.
2.f - Factors which will lead to a reduction in profiteering housing demand = Making sure that the economic and legal framework in the UK is not overly benevolent towards BTL (Buy To Let) buyers at the expense of the FTB (First Time Buyers) group. We express no opinions about population control, or immigration
3 – “Our goal is to influence housing supply and demand such that the purchase price of the average UK dwelling is not more than five times the average UK annual wage. To reach this point, house price inflation should be limited to a maximum of equalling the Retail Price Index and in some areas a period of mild house price deflation would be encouraged.”
3.a - RPI = RPI is defined and managed by the UK government. We need an external and independent yardstick to measure success, and this is it.
3.b - some areas = London, Berkshire, Buckinghamshire, Oxfordshire, Hampshire, Surrey, Hertfordshire, Kent, Sussex, Essex, Bedfordshire, Cambridgeshire, Norfolk, and Suffolk.
3.c - a period = up to 4 years
3.d - mild house price deflation = a year on year purchase price decrease of between 0% and 10%
3.e - purchase price of the average UK dwelling = UK Government Land Registry House Price Index average figure.
3.f - average UK annual wage is derived from the Annual Survey of Hours and Employment. The figure we use is the UK median weekly pay for all full time employees.
4 – “Priced Out is not affiliated to any political party, and is committed to using exclusively lawful and reasonable means to achieve our goals and communicate our message. The meaning of the word “house” covers any permanent, full-time dwelling in the UK.” It is an entirely non-profit-making organisation, run on donations from its members and volunteers.”
Priced Out will not accept any responsibility for any actions carried out by individuals or organizations who are, or claim to be, supporters of Priced Out.