Homeownership – An invite to the party

As the Westminster machine chug towards the next general election, it remains to be seen whether the penny will drop that homeownership and the young vote might actually be linked.

It is well documented that homeownership among the young has dwindled since the Conservatives came to power. In the last 15 years, the fall in this has only been bettered by the drop in polls. Only one in ten voters under 50 now intend to vote Tory at the next election.

For people starting out in the working world, it’s hard not to feel they are getting a raw deal and too right. The benefits enjoyed by the generation before are a distant dream and little attempt is being made to change that. Instead, certain MP’s continue to act as if homeownership is a party the young have not been invited to.

Contrary to popular belief there are people out there that do support housing. According to recent research almost two-thirds of young people agree they would be more likely to vote for a candidate who promises more home delivery. Not bad for a demographic that makes up 20% of the electorate.

If only there was a cheap and easy solution to this. Well, there is! Unlocking small sites in urban locations remains the golden ticket for policymakers looking for a quick (and relatively uncontroversial) win. Recent research found that Councils across England and Wales are in possession of more than 300,000 unused “small sites” that are less than three acres in size and could be used to provide nearly 1.6 million new homes.

Getting rid of the blockers to bring these sites forward is key and the Government is starting to wake up to this. Following Andrew Lewer’s amendment to streamline the planning process for small sites with high levels of affordable housing in the LURB (it takes almost 5x the statutory determination period to gain planning for these types of sites), the government has committed to reviewing the policy in the NPPF consultation.

A step in the right direction, but one that is too late for the Conservatives? Why not fast-track this and adopt it in the LURB which will receive royal ascent later this year. From our discussions with members of the Lords there is a growing appetite from all parties to promote such a policy at the next round of debate.

It would be foolish to turn down such an opportunity and if the Tories want the party to continue, it’s about time they invite the young!

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