Michael Gove has suggested that falling levels of home ownership were a factor in the Tories’ local election losses.
The levelling up and housing minister said more had to be done to get Britons on the property ladder, noting that the proportion of people living in their own homes has gone down in recent decades, while the number of those renting has risen.
Home ownership has fallen from 51 per cent in 1989 to 28 per cent in 2019 among 25 to 34-year-olds.
“There are people who are perfectly capable of servicing a mortgage who are paying more in rent than they would for their mortgage. That is wrong.” Mr Gove said.
He added: “There is a particular challenge for us in London and I think that challenge in London relates to…homeownership.
“There are other factors. But I think that for young people in London, there is a responsibility on the incumbent government to address some of the factors that have made it more difficult for them to own their own home.
“That’s one lesson that I would draw at this stage. The other one is that the Labour Party doesn’t seem to have made anything like the progress outside of London, that you would expect an opposition to do if it was on course for victory.”
Just last month, Mr Gove spoke at a conference hosted by the charity Shelter, where he said there had been a “failure to ensure that there are homes which are genuinely affordable for all”.
The government’s plans to increase the supply of homes form part of its Levelling Up and Regeneration Bill will be unveiled in the Queen’s speech next week. The reforms also aim to revitalise high streets and town centres, including by giving councils getting extra powers to force landlords to rent out empty shops.
Speaking on the Bill, Boris Johnson said: “High streets up and down the country have long been blighted by derelict shopfronts, because they’ve been neglected, stripping opportunity from local areas.
“We are putting that right by placing power back in the hands of local leaders and the community so our towns can be rejuvenated, levelling up opportunity and restoring neighbourhood pride.”
