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Pete Redfern, Chief Executive of Taylor Wimpey and Labour’s Shadow Minister for Housing and Planning, John Healey MP, have launched a public call for evidence into the decline of home ownership.
Known as The Redfern Review, it is an independent review into the causes of falling home ownership and the future direction of home ownership trends. Its main objective is a critical review of the environment for home ownership and ways in which it can be improved.
As the UK economy has emerged from the global banking crisis and recession, one would think that opportunities to buy should be increasing yet home ownership levels have fallen every year and the number of people with a mortgage in 2014 was 10% lower than in 2010.
The Redfern Review will analyse the decline in homeownership by initially focusing on five main themes, reviewing the main factors that are driving this trend:
▪ The specific constraints on buying your first home.
▪ The effectiveness of transitions in home tenure.
▪ Home ownership later in life.
▪ Housing supply.
▪ Short, medium and long term impact of the current policies.
Views are being sought from all interested parties, especially to answer the following key questions:
The Review is expected to report in early September 2016, responses should be submitted by Friday 18 March 2016. A dedicated website has also been launched where you can have your say.
We will get back to you as soon as possible.