A new report reveals how planning reforms are necessary to boost home ownership levels in the UK while suggesting that a certain number of new build homes could be reserved for UK residents.
The report, written by MP Chris Philp for Homes for Everyone, Centre for Policy Studies, looks at what can be done to ensure that more homes go to UK residents and first-time buyers, while noting the gap between the number of new homes needed and the number of homes being built each year.
Philp’s report also points out the benefits of home ownership, and says that more needs to be done to make sure the government’s goal of 300,000 new homes each year by 2025 is realised and that these homes are affordable for first-time buyers.
In stressing the need to boost house building, Chris Philp, MP, said: “We need to place home ownership at the front of the policy agenda and make sure that first time buyers get all the support possible to get onto the housing ladder”.
The report, welcoming the recent changes to stamp duty for first-time buyers, argues that first-time buyers should be able to secure a proportion of the new homes being built.
Director at the Centre for Policy Studies, Robert Colvile, said: “This new report by Chris Philp contains many ideas that deserve serious consideration if we are to make home ownership the norm for young people”.
With home ownership levels falling among millennials, this report argues that more needs to be done to speed up the planning system, boosting the delivery of new homes and making it easier for would-be first-time buyers to step onto the property ladder, in London and elsewhere in the UK.
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