Harry Mears, UK Head of Social Housing at KPMG, comments on the Redfern Review - an independent review into the decline of homeownership.
Harry Mears, UK Head of Social Housing at KPMG, commented:
“The Redfern Review adds to the growing pool of evidence highlighting the magnitude and complex nature of the housing problem in the UK. Interestingly the review suggests that a potential solution does not simply lie in increasing the supply of homes alone, but rather addressing the myriad of barriers to entry faced by so many – including falling relative wages, rising property prices and a lack of access to credit.
“Whilst the supply of homes is still flagged as an important factor in need of addressing – indeed our own research suggests that 250,000 new homes are required annually in England alone in order to keep up with demand – the review also calls for improvement in the rental conditions for tenants via longer-term contracts. The playing field between home ownership and rental is certainly in need of levelling – with the former seemingly the only option for stability and security in an environment of snowballing rental costs, yet unobtainable for many.
“The housing market has been unjust for some time and attempts to address the issue to date have been patchy at best. With this review, conducted by experts with a deep knowledge of the sector, we could well see a step change on the horizon, but knowledge must be turned into long-term collaborative action.”
For details of KPMG’s Building the homes we need report, written in partnership with Shelter, please click: here
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