Generation Rent has today challenged politicians to offer the electorate ambitious solutions to fix the housing crisis, as we launch our Renters’ Manifesto.
In the manifesto, which follows a public consultation, Generation Rent proposes:
- Reform of the private rental market, which currently fails the millions of renters now stuck there, with the right to a five-year tenancy and professionalization of landlords and letting agents.
- A new housing market that allows buyers to opt-out of rising house prices in return for a lower initial price.
- A new department with a remit to fix the housing crisis and save the taxpayer billions.
Nine million people in England – or nearly 4 million households – rent from a private landlord. Generation Rent has found that this figure has increased by an average of 180,000 households per year over the past decade as home ownership has fallen out of reach for more people. While mortgages for first time buyers were up by 50,000 in 2013 to 268,800 this is unlikely to reverse the long term growth of renting, especially with new rules that make it more difficult to get a mortgage and competition for houses from pensioners who will be free to use savings to invest in buy-to-let.
There are enough private renters with no party allegiance to overturn the majority in 86 constituencies at next year’s General Election. This Manifesto offers political parties policies that will help them win over this newly important electorate.