Is housebuilding no help to Generation Rent?!
08 November 2018
Economic and Social Research Council are reporting that findings from a three-year study of young people’s transitions into homeownership show that the proportion of young adults who were homeowners by their early thirties fell sharply between 1991 and 2011.
“Young people in their early thirties were three times as likely to live in the private rental sector in 2011 compared with 1991,” says Dr Rory Coulter.
The study indicates that policymakers must pay urgent attention to improving the security and affordability of rented housing where most young people live.
At present, the Ministry of Housing, Communities and Local Government is consulting into increasing the security of private sector tenants by extending contracts from one to three years.
“In the short term, improving affordability and security of tenure, particularly for the disproportionate number of disadvantaged young families who are being pushed into private renting, as well as improving access to social housing, is where attention should focus,” he says.