A landmark review of the housing crisis in Britain led by
the boss of one of the country’s biggest housebuilders has been criticised for
downplaying the lack of homes being constructed by property companies. Just
139,030 new homes were completed in the year to June 2016, according to the
ONS. However, the review, led by Pete Redfern, chief executive of housebuilder
Taylor Wimpey, claimed the biggest drivers behind the decline in home ownership
since the financial crisis were a fall in real incomes for potential first-time
buyers, and banks tightening their mortgage lending. The review claimed that
increasing housing supply “does not directly improve the home ownership rate”
and will not solve the crisis. Read more on the Guardian website.
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