A time for innovation developing new housing policy mechanisms
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……………………………………………………………………………………………. A Time for Innovation: Developing new housing policy mechanisms . Contents. ……………………………………………………………………………………………………. Divided society not ‘Big Society’ in housing The new housing policy reality New policy mechanisms Changing role for government

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A Time for Innovation: Developing new housing policy mechanisms

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A time for innovation developing new housing policy mechanisms

..

A Time for Innovation: Developing new housing policy mechanisms


A time for innovation developing new housing policy mechanisms

Contents

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  • Divided society not Big Society in housing

  • The new housing policy reality

  • New policy mechanisms

  • Changing role for government

  • Can the Big Society contribute?


A time for innovation developing new housing policy mechanisms

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No Big Society in Housing


A time for innovation developing new housing policy mechanisms

Home ownership has moved far out of reach

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A time for innovation developing new housing policy mechanisms

The younger generation is living in private rent

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A time for innovation developing new housing policy mechanisms

Affordability varies dramatically by Local Authority

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Source: Hometrack


A time for innovation developing new housing policy mechanisms

Trouble is being stored up for the future

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Mortgage payments as a proportion of gross household income among low to middle income mortgagors


A time for innovation developing new housing policy mechanisms

The new housing policy reality

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  • Private rent no longer a pass through tenure but sector not fit for purpose

  • Strategic approach to housing can no longer focus just on social housing and FTBs

  • Large numbers will reach old age with no assets

  • Welfare reform destablising the situation of the least well off

  • Government has limited money


A time for innovation developing new housing policy mechanisms

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New mechanisms and the role of government


A time for innovation developing new housing policy mechanisms

Can private finance save the day?

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Institutional investment in market rent

VS.

Social housing

bond issues


A time for innovation developing new housing policy mechanisms

Private investment linked to product innovation

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A time for innovation developing new housing policy mechanisms

Government needs to play different roles

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  • Government as guarantor not grant maker eg. debt guarantee

  • Government as co-investor on an equity basis a new approach to best value

  • Government as enabler through local flexibility on planning and use of public land

  • Government as quality improvement engine a something for something deal with developers


A time for innovation developing new housing policy mechanisms

Is there a role for the Big Society in innovation?

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  • Ansar Finance Group community based co-investment

  • Rural rent to buy in the Highlands

  • Community self build and other community land trust initiatives

  • Possibility for buy to let landlords to invest locally to increase supply


A time for innovation developing new housing policy mechanisms

..

THANK YOU

Vidhya Alakeson

Deputy Chief Executive

Resolution Foundation

[email protected]

020 3372 2953


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