Since the Redfern Review into the decline of homeownership in Britain was published yesterday by Taylor Wimpey CEO Pete Redfern for the Labour Party, industry has welcomed the findings of Redfern’s review, underlining the need for a long-term strategy to combat the the sustained fall in housing supply.
With homeownership rates dropping from 71 per cent to 64 per cent over 12 years, the report puts the lack of mortgage availability, falling interest and a sustained failure to meet housing construction targets as the chief factors in the decline of homeownership in Britain.
Recommending a long-term housing strategy, agreed across party lines and overseen by an independent commission, Redfern’s review demonstrates the critical importance of improving housing supply in the long-term and incentivising investment in a healthy private rented sector in order to create affordable tenure for all.
LendInvest believes SME developers have a critical role to play in solving the housing crisis. Read more here.
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