14:29 PM, 31st July 2018, About 5 years ago 15
The Housing & Finance Institute have released a report titled A Time for Good Homes – a discussion paper on meeting the needs of the generation that housing forgot. Click Here to read the full report.
The report is Critical of the Private Rental Sector stating:
“Over the last 15 years the type of housing that is provided across the country has been dramatically reshaped. This shift is harming the life chances, health, financial prosperity and wellbeing of millions of
people. That must change.
In the recent past around 90% of households have been housed in traditional forms of stable housing, namely home ownership and social renting. This changed after 2002 with a sustained growth in private rented housing. The result is that proportionally there are 2.4 million fewer households with access to a Good Home than 15 years ago. This is the Good Homes Gap and it affects around 6 million people.”
The reports definition of a ‘Good Home’ is displayed below:
The paper then sets out a ten point plan to “reverse the damage caused by the explosion in private renting and to make sure that millions more people can access an affordable, stable home that supports job mobility and creates a springboard for opportunity.”
Natalie Elphicke OBE, Chief Executive of The Housing & Finance Institute, writes a summary in conservativehome:
“Over the last 15 years Britain has embarked on a housing experiment that has failed six million people, the majority of whom have been the young and the least well off. The experiment has been the state-supported explosion in private renting.
“Successive Labour and Conservative governments have overseen a doubling of private rented housing since 2002, at the expense of both home ownership and social housing. Just 15 years ago, people would have been expected to own their own home or live in social housing. Now, too many have little choice but to live in the private rented sector.
“These reduced levels of home ownership and social renting have been harmful to family and financial stability. Furthermore, as well as damaging family stability and opportunity, the high levels of private renting have failed to promote labour market mobility. Fewer people are moving than in previous decades. The doubling of the private rented housing sector has not resulted in greater labour market flexibility.”