Three-quarters of business leaders believe that the housing market is having a negative impact.
Over half (55%) say that they have lost staff because employees either cannot afford to live in the area or are unwilling to commute.
Almost three-quarters (73%) of the 1,000 executives and business owners polled by Strutt & Parker say they are struggling to recruit because of local high housing costs.
The same number would consider relocating to a cheaper area.
Others (71%) would consider investing in housing for their staff, and some are already actively doing so.
The businesses say that the cost of housing has had three major effects on them – it has forced them to pay higher wages, resulted in a lack of skilled workers, and slowed their expansion.
Strutt & Parker also found that housing costs are a deciding factor when it comes to employees deciding whether or not to accept a new job, with 85% saying that it is a critical issue.
Exactly what was forecast on the site Saynotogeorge when our former Chancellor made his tax attacks. Landlords are quitting resulting in a shortage of rental stock. In some areas this is forcing up rents, others will follow. Those people that want to find jobs out of area and can’t sell their house because of the slow down in the market simply cannot afford to take those jobs. Letting their house means the punitive tax regime makes in unviable. Great work George.
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How many of these companies CEO can’t afford their housing? It’s called a market. If their employees can’t afford to rent or buy then perhaps they are not paying market rates in salaries and just want cheap labour? To some degree the housing problems have arisen due to pressure from cheap labour from eastern European countries putting demand on housing driving up rents. Whilst companies enjoy that cheap labour. Perhaps these very companies have been partially the cause of Brexit as well? as the indigenous population find it harder to find housing and blame the surge in foreign cheaper labour. The rising differentials between upper and lower salaries leading to the have’s and have not’s has split society and the country. We now have radical right and loony left politics and the sensible centre seem to have evaporated. The issues are wide and far! Whilst NO ONE has built the housing needed at the time the demand was there.
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