Home ownership in this country has been falling for fifteen years. House prices are now around seven times average earnings. For generations of younger people in their twenties and thirties, the dream of a home to call their own now feels firmly out of reach. The Government, to its credit, recognises this and has pledged to deliver an average 300,000 homes a year by the mid-2020s. But, given net additional dwellings last year stood at around 217,000, there is a long way to go.
Onward’s first paper will argue that we need a new approach to both housing supply and demand if we are to make housing affordable again. It will set out a balanced set of reforms to radically increase the supply of homes while preserving the views and places people value most, and propose ways to reduce demand for housing as an investment asset rather than a home. These changes would deliver long term sustainability to the housing market, but to meet immediate need, Neil proposes a series of targeted measures for young people in work to start earning towards home ownership.
Date and time: Monday 25 June, 1800 – 1930
Location: Macmillan Room, Portcullis House, Houses of Parliament
– Neil O’Brien, MP for Harborough and report author
– Nick Boles MP, Former Planning Minister
– Polly Neate, Chief Executive, Shelter