William Eichler 17 April 2018

Housing shortage condemns ‘millennials' to renting for life

Housing shortage condemns ‘millennials to renting for life  image

A think tank has called for councils to receive more support to build affordable housing as report reveals a third of millennials face renting from ‘cradle to grave.’

New research from Resolution Foundation has found the housing crisis has condemned many people in their early 30s to living in an ‘insecure’ private rented sector.

The think tank’s report, entitled Home Improvements, found four in 10 millennials - defined as those who reached young adulthood at the beginning of the 21st century - rent in the private sector.

This is double the rate for generation X (born 1965-85) and four times that for baby boomers (1945-65) at the same age.

The report argued this reflects the fact that millennials have little access to either affordable or social housing.

If home ownership growth follows the weak pattern of the 2000s, the research found, up to half of millennials could be renting (either privately or in the social rented sector) in their 40s.

A third could still be renting by the time they claim their pensions.

‘Britain’s housing problems have developed into a full-blown crisis over recent decades and young people are bearing the brunt – paying a record share of their income on housing in return for living in smaller, rented accommodation,’ said Lindsay Judge, senior policy analyst at the Resolution Foundation.

‘While there have been some steps recently to support housebuilding and first time buyers, up to a third of millennials still face the prospect of renting from cradle to grave.

‘If we want to tackle Britain’s ‘here and now’ housing crisis we have to improve conditions for the millions of families living in private rented accommodation. That means raising standards and reducing the risks associating with renting through tenancy reform and light touch rent stabilisation.

‘For any housing strategy to be relevant and effective for people of all ages, it must include this combination of support for renters, first time buyers and ultimately a level of housebuilding that matches what the country needs.’

Slavery in supply chains image

Slavery in supply chains

Tiffany Cloynes and Clare Hardy explore what responsibility councils may have in the future to eliminate slavery and human trafficking in their supply chains.
Open letter to Boris Johnson image

Open letter to Boris Johnson

The MJ's editor Heather Jameson asks the new PM a simple question: do you want to fund local government or do you want to scale back services to the basics?
Highways jobs

Senior Traffic Engineer

East Riding of Yorkshire Council
£32,029 - £34,788 per annum
Currently seeking an enthusiastic and experienced individual to manage our Traffic Team. East Riding of Yorkshire
Recuriter: East Riding of Yorkshire Council

Head of Operational and Commercial Services

Copeland Borough Council
£66,273.48 per annum
Looking for a professional with ambition and inspirational leadership qualities, with operational service and... Cumbria
Recuriter: Copeland Borough Council

Senior Practitioner FRAT

London Borough of Bexley
£42,198 - £48,156 (inclusive benefits)
Looking to appoint an experienced Senior Social Workers to assist us in assessing family members/friends to see whether... Bexleyheath, London (Greater)
Recuriter: London Borough of Bexley

SEN Case Officer

London Borough of Bexley
£33,738 - £39,696
Would you like to support the educational opportunities for children and young people with Special Educational Needs and Disabilities in Bexley? Bexleyheath, London (Greater)
Recuriter: London Borough of Bexley

Senior Practitioner – Looked After Children

London Borough of Bexley
£42,198 - £48,156 inc benefits
Do you think you have what it takes to join our team of excellent and dedicated social work professionals? Bexleyheath, London (Greater)
Recuriter: London Borough of Bexley

Local Government News

Latest issue - Local Goverrnemnt News

This issue of Local Government News explores how councils can tackle modern slavery and trafficking in their supply chains, finds out more about Cambridge's first cohousing scheme and the launch of a new project to build a shared service pattern library for local government.

This issue also contains a special focus on children's services and how councils are protecting children following local safeguarding children boards being abolished.

Register for your free magazine