Generation Rent, the Government may be ready to help you out!

Generation Rent, the Government may be ready to help you out!

In its housing white paper, the Government aims to turn its focus to Generation Rent and the lack of affordable housing.

The Government’s latest pledge includes a closer look at new ways to encourage building of more affordable homes across the country as well as ways to encourage landlords to hand out longer tenancies.

Britain’s Housing White Paper: revealed and explained

“We are determined to make housing more affordable and secure for ordinary working families and have a rental market that offers much more choice,” communities secretary Sajid Javid told City A.M.

“We understand people are living longer in private rented accommodation which is why we are fixing this broken housing market so all types of home are more affordable.”

All of this signals a shift in the Government’s focus ever since Theresa May took over from former PM David Cameron. Whilst Cameron’s main intention was to turn Generation Rent into Generation Buy, May’s approach appears somewhat broader and sees the rental market more as something that can add value to UK housing if done right.

The scrapping of the letting agent fees which was announced during Philip Hammond’s first Autumn Statement, which was only Step 1 on a long journey to make renting a choice rather than a last option.

The rising age of Generation Rent

Labour, however, expectedly called the proposal “disappointing” as it falls far behind what is actually needed.

City A.M reports Labour shadow secretary for housing, John Healey, stating:

“Ministers continue to do next to nothing to help people who rent from a private landlord and have consistently blocked Labour’s attempts to change the law to control costs and give renters security. Ministers even voted down Labour’s efforts to ensure that private rented homes were simply fit for human habitation.”

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