Four former housing ministers have backed a Tory thinktank policy paper that urges a radical rethink of government housebuilding policies.
The Centre for Policy Studies report, The Case for Housebuilding, explains how the UK's massive shortfall in homes has played a key role in driving up prices, explains why building solely on brownfield cannot deliver the homes needed, and how housebuilding is not as unpopular as is generally understood.
It believes that it's a myth that increasing supply would do little to reduce the price of housing to affordable levels.
The report points to a huge drop in building rates since the 1960s, smaller new homes and dramatically increased prices, particularly where supply and demand are most imbalanced.
It says rents are also climbing as a share of income; whereas private renters spent 10% of their income on housing from the 1960s to the 1980s, rising to 15% in London, the share of income spent on rent has risen to 30% in recent years, and almost 40% in London.
It adds: 'The case for housebuilding is simple '� without it, Britain will be a less productive, less equal, less fair and less happy country. Building more homes is the clearest way to boost economic growth and rebuild our economy.'�
Former Housing Secretaries (left to right, main picture) Sajid Javid and Simon Clarke and former Housing Ministers Brandon Lewis and Kit Malthouse have backed the report.
Javid says: 'For decades, we have simply not built enough homes. This failure risks creating a generation that without any capital of its own, becomes resentful of capitalism and capitalists.
"This important report presents a clear analysis of the core challenges we face, and how elected officials can and must rise to them.'�