Cluttons has released its response to the government’s much anticipated Housing White Paper, which was released on 8 February.
The paper which was touted as being a ‘silver bullet’ of sorts appears to have fallen short on genuine solutions to solve the ever-deepening national housing crisis, which is centred on London. Instead, it largely discusses and in some instances, builds upon the schemes and policies which are already in place.
It does however bring in focus certain aspects which have been less well addressed in the recent past, such as the rental market, which was largely side-lined by the last government in favour of home ownership. The renewed focus on the lettings market comes as no surprise given the surging number of renters across the country over the last decade. In fact, the number of households renting property has doubled from 2.3 million in 2001 to 5.4 million in 2014. This alarming increase also suggests that without any immediate remediation, the UK could find itself with a shortfall of approximately 1.8 million rental homes by 2025.
It is encouraging to see this being addressed by the government, although it is perhaps tantamount to an acceptance of the growing permanency of Generation Rent.
Our full response to the Housing White Paper can be downloaded here.