It is a pleasure to speak to new clause 12, which is tabled in my name and which would introduce new requirements to encourage the development of small brownfield sites. I thank colleagues on both sides of the House who have supported it. I do not propose to put it to a vote, because the Housing and Planning Minister—my right hon. and learned Friend the Member for South East Cambridgeshire (Lucy Frazer)—has indicated her interest in it and given assurances that it will be part of the Government’s future thinking.
We should all know the scale of the crisis that we are facing. In 2003, 59% of households led by someone aged between 25 and 34 owned their homes; by 2020, the figure had fallen to 47%. At this rate, we are destined to see the majority of people under 50 doomed to a life of permanent renting.
Because of increasing wage-to-house-price ratios, we are witnessing a steady fall in home ownership. In 2019, 65% of households in England owned their homes, a fall from 71% in 2003. The decline in home ownership has been especially pronounced in younger age groups: the number of homeowners aged between 25 and 34 has fallen from 59% to 41%. That puts more and more pressure on the private rented sector. Rental demand is up 142% when compared with the five-year average, while supply is down by 46%. Rents are soaring as a result.
We are having this debate later than was intended, largely owing to the issue of housing targets. They are not the preserve of the left or liberals; Sir Keith Joseph was attacking Labour for not having them in the early 1960s. And I take issue with the phrase “housing target”. This is not a target, but a minimum need. It is a gaping, strategic deficit, and a clear and present danger to economic growth.
There is a need to make tough decisions. It is time to lead and not to follow. Abolishing housing targets is an example of failing by following, and opening ourselves up to the accusation of acting for perceived short- term political gain. The best time to build a house was 20 years ago; the second best time is now. As a Conservative,
I believe that one of the Government’s best attributes is their ability to indicate and signal to the markets, and in this case we must do all we can to let the markets know that it is time to build—and yes, to build beautifully too.
The national Government of this country nationalised land use via the Town and Country Planning Act 1947, which is still in force. Since 2001, the population of this country has increased by 8 million. That is on the national Government as well. The national Government cannot have nationalised land use and restrictions, and be responsible for such a massive population increase, and then turn round and say, “It’s localism, isn’t it?” It is not localism, and the dropping of targets is a very unfortunate step.