Martyn Jones

Labour Party | Clwyd South

Homeownership Has Grown-MP Says Let Growth Continue

Martyn Jones MP for Clwyd South recognises the all-time high in home ownership and wants to see growth continue.

New low cost home ownership schemes, and the chance for tenants to buy a share of their home will allow for thousands more to become homeowners. 

On the long-term, interest rates have decreased—where rates averaged over 10% in the 1980s, rates are today under half that percentage.  These decreased interest rates are saving households on the cost of mortgage payments, totalling savings of some £3,000 per year.

Commenting on the progress, Mr. Jones says:

“Since 1997, homeownership in Britain has increased by 1.5 million, to which Wales has contributed 57,000 new homeowners.  This type of progress is huge, it is progress that was non-existent while the Tories controlled the Government, and it is progress that I ensure will continue.

“Anyone who has lived in Clwyd South for a decade or longer can recall the days when the Tories allowed interest rates to rise into the double digits.  We were all witness to the economy that suffered under such rates and anyone who allowed the Tories to resume control over the economy would be absolutely foolish.”