Assistant Housing Minister Sean Power says that there is a housing ‘supply shortage’ and has slammed the Island Plan as ‘flawed’.

Tough lending rules introduced by banks over a year ago have made it almost impossible for Islanders earning an average wage to have any chance of owning a three-bedroom house.

Rules putting an end to 100 per cent mortgages now prevent an applicant from lending more than five times their annual salary.

Deputy Power said that this meant that many people could not afford to buy a home in Jersey.

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