Experts look into affordability, housing supply, other housing crisis

Experts have a begun the biggest review into the UK housing market.

Telegraph reports that this review is being handled by Pete Redfern, chief executive of Taylor Wimpey,John Healey MP, the housing minister, along with others.

According to Mr. Redfern, this review will look into affordability for first-time buyers, housing supply and planning, more.

“It’s not to knock party policy but to question and challenge, and to say ‘this is working really well’, or ‘this isn’t working well but may do in the future’. It’s pointless having the review if you’re not willing to challenge policy. This is not about party politics, it affects us all.

We are not trying to set a number [for homeownership] that we say is right, and it’s not a one-way street, but it’s falling consistently and that’s not a healthy thing. One thing we’re clear on is we’re not promoting homeownership at the expense of other tenures.”

Mr Healey supported with this statement.

“The Redfern Review will take a hard look at the causes of the recent decline in home-ownership, to help bring fresh ideas to the wider public debate on how we can get to grips with this problem.”

This is the first big review into Uk's housing market in over a decade.