Regeneration of city centres can’t make up for 13 years in which renters were neglected while construction giants profited
Housing policy managed over decades for the benefit of developers and homeowners has led to insecurity and inequality for everyone else. The number of households renting privately in England and Wales has risen hugely – from 1.9m in 2001 to 5m in 2021, while the home ownership rate has fallen to 62% from 64% a decade ago. Outright ownership (with no mortgage) is the most common form of housing tenure in England (33%) and Wales (38%). But the ownership rate among younger adults has fallen sharply. Like black and ethnic minority people, they disproportionately inhabit low-quality, privately rented flats.
This damaging situation means that housing is recognised as a key issue by politicians in all parties. On Monday, Michael Gove, the housing secretary, sought to address it with a speech that was stronger on style than substance. Having abandoned an obligatory target of 300,000 new homes a year, after a threatened revolt from backbenchers, Mr Gove is seeking to persuade voters to ignore his party’s record and focus instead on the vibrant city centres that he sketched in the air.
