The housing market is one of the greatest barriers to people today. It doesn’t matter if you buy or rent, housing is increasingly unaffordable for people who work hard.
The average house now costs almost eight times more than average earnings. Many working households with below-average incomes spend a third or more of their disposable income on housing and others are unable to get together the sums needed for a deposit.
We will give councils and developers the tools they need to build more swiftly. We will invest in making the planning system more open, improve the co-ordination of public investment in infrastructure, support timely connections to utilities, and tackle unnecessary delays.
We will diversify the housing market and open it up to smaller builders and those who embrace innovative and efficient methods. We will encourage housing associations and local authorities to build more, and we will work to attract new investors into residential development including homes for rent.
We are improving safeguards for people in the private rented sector, doing more to prevent homelessness and helping households currently priced out of the market.
By building the homes that we need and giving those renting a fairer deal, we will ensure that those who grow up in Britain today receive the same opportunities as their parents and grandparents. And by working through our Plan for Britain, we will begin to break down the barriers to progress that stand in the way of millions of working families.