Propertymark joins action groups formed to challenge UK Housing Crisis

The Future of Homes report published by Nationwide Building Society has shone a light on four distinct areas to help promote affordability, accessibility, and sustainability of UK homes.

Four action groups, from a range of organisations and experts in the housing sector, have been set up to identify then address factors contributing to what is being deemed a housing crisis within the UK. 

The action groups will focus on: 

  • NEW HOMES: increasing the number of new and affordable homes built that meet needs from first-time buyers to downsizers.
  • GREEN HOMES: delivering practical solutions and policies to help deliver greener homes through encouraging greater public-private sector collaboration to reach net zero, with consumer incentivisation and support at the heart of this. 
  • RENTAL: Increasing the options available for renters, including social housing, with a view to making homeownership more accessible to everyone.
  • DELIVERY: modernising the housebuilding process to deliver the homes needed. As well as these four areas, the pandemic has also been highlighted as a contributor to the report indicating a housing crisis. According to the report, the average first-time buyer property costs 5.6 times the average income and the number of people living in rented accommodation have grown significantly over the years – 64 per cent of households were homeowners in 2003 compared to just 57 per cent now. However, many renters face an uphill struggle to save for a deposit, with a typical first-time buyer property deposit equating to 56 per cent of the typical annual wage.

Where we live plays a pivotal role in all our lives and Propertymark members are at the heart of supporting people when they buy, sell, and rent a home. The pandemic has impacted everyone and changed how many people now live and work. 

The new action groups focus on the challenges ahead and we look forward to continuing to work with Nationwide and other partners to help find solutions to improve the affordability, accessibility and sustainability of the sector.

Timothy Douglas Policy and Campaigns Manager | Propertymark
Read the report