THE government should consider subsidies of up to 75% to help young Islanders get a foot on the property ladder, according to the president of the Association of Jersey Architects.
Describing independence for young people as “a really motivating idea”, Mike Waddington pointed to innovative approaches to co-living – homes with shared facilities – in the UK which he said might help provide the first step towards home ownership.
“I wonder if there might be a development or two that focuses on getting young people into their first home in some fashion. I’m guessing that would need to be government subsidised, perhaps more than the government subsidies available at the moment. I think if you are going to invest in property and in young people they are very worthwhile for the Island’s future. There is the gateway at the moment which funds up to 25% of the value of a home – to be honest, I think it needs to be more like 75% which is a big leap but there has to be a way of letting young people buy their first place,” he said.
Young people will be at the heart of this year’s Architecture Week, which takes place in October at ArtHouse Jersey’s Capital House gallery.
“It’s easy for me to preach that young people are desperate to buy their own home but they may not be: we may live in a society where young people are happy to borrow and rent, and ownership is not necessarily the prized objective that it was in our generation. I’m keen we use Architecture Week events to tease out these sort of issues. I hope that decision makers and States Members come along to the events and we can collaborate to create these imaginative solutions,” he said.