The latest Resolution Foundation Home Improvements report is out today and proposes a number of new policies to address the “decades of neglect” that have left young people a short changed when it comes to housing.
According to the report, 40% of millennials live in privately rented accommodation at the age of 30, which is double the level of the previous generation, and a third could still be renting when they claim their pensions.
The number of households with children living in privately rented accommodation has tripled from 0.3 million in 2003 to 1.8 million in 2016, which means that half of all households with children now live in privately rented accommodation.
The Resolution Foundation estimates that 32% of total housing stock is owned by someone who could be described as ‘over-housed’, either because they significantly under-occupy their home or because they own multiple properties (other than those they rent out) and proposes a number of policy changes that would make it harder to be over-housed but more tax efficient to exit the category.
More policy proposals included in the report can be found at: http://propertyreporter.co.uk/landlords/could-generation-rent-be-effectively-tackled-by-new-policy-changes.html
The full report is available here.
This blog was first published on Property Reporter on 18 April 2018