“Home Ownership for Under 45s Has Dropped By A Million Since Tories Came To Power”

“Home ownership for under-45s has dropped by more than a million since the Tories came to power, new figures have revealed.

The English Housing Survey, published today, shows that whereas 4.46million under-45s owned a property in 2009/10, that figure fell to 3.41million by 2017.

Theresa May vowed in her conference speech in October last year to tackle the “broken housing market” – after an election which saw voters under-47 more like to vote Labour than Tory.

But measures announced in Chancellor Philip Hammond’s budget a month later were criticised for not involving any new construction starting to build the homes the Government says is required.

Labour’s Shadow Housing Secretary John Healey told HuffPost UK today’s statistics “show the scale of the Conservatives’ failure on housing.”

He added: “A generation are locked out of home-ownership and stripped of the hope of owning their home in the future.

“The government has got to do more to help those on ordinary incomes get a first foot on the housing ladder. They promised to build 200,000 ‘starter homes’ but not a single one has been built, and the number of new low-cost homes to buy like shared ownership has halved. …”