Teresa, Labour’s Shadow Housing and Planning Minister, commenting on analysis of home ownership levels by the Resolution Foundation, said:
“This analysis is a damning indictment of the government’s failure to get to grips with the housing crisis.
Millions across the country are struggling to realise their aspirations to own their own home, with house prices rising way above wages in recent years. We need to build more homes of all types of tenure across the country to increase the supply of homes for families.
A million more families became home-owners under Labour but on the Tories’ watch the number of young people owning their own home is plummeting, and their Starter Homes scheme with affordable housing at up to £450,000 will be out of reach for many.
The Government urgently needs to address their past 6 years of failure and come out with a long-term plan to tackle declining home-ownership which promotes the building of a wide range of homes of different tenures.”