The Redfern Review, an independent study into the decline of homeownership, is expected for release in autumn 2016.
The report, commissioned by the former Shadow Secretary of State for Housing and Planning, John Healey MP, is undergoing an extended consultation period to take into account the consequences of the recent UK vote to leave the EU.
Study into Decline of Homeownership Expected for Release in Autumn
The Redfern Review’s main objective is to analyse the recent decline in homeownership and ways in which opportunities to boost homeownership can be improved. It is an independent review that aims to widen public debate and policy thinking.
Despite his recent resignation from the shadow cabinet, John Healey continues to work on housing and is determined to continue to encourage the delivery of the review. Alongside Peter Redfern, he remains passionate about the long-term health, sustainability and fairness of the property market. Redfern is committed to completing the work of the review, and expects it to be published in autumn.
The recent uncertainty caused by the EU referendum has put the housing market into sharp focus as a key factor in national social and economic stability, and in the security and life choices of individuals.
The panel and team have already focused on the long-term issues surrounding the market, how short-term initiatives impact in the long-term, and the balance of opportunity for all in accessing homeownership and other forms of housing tenure.
In the early autumn, the panel expects to set out a comprehensive analysis of the decline in homeownership and an overall framework within which high quality and long-term housing related decisions can be made.
However, the referendum vote of 23rd June has caused a series of potential challenges and opportunities, and the team intends to update its report to take this change into account.
The initial submission and consultation process is now complete, but the Redfern Review will now extend its consultation deadline to 31st July, to consider the impact of Britain’s exit from the EU. Submissions can be sent to: info@redfernreview.org.
Peter Redfern comments: “The long-term decline in homeownership in the UK towards 60% disadvantages both individuals and the health and stability of our economic and social structures. Our initial findings indicate that only long-term measures will work in addressing this critical issue in a sustainable way.
“The review will report in the autumn taking into account views on the impact that Brexit will have on homeownership. We need to continue to strive to give current and future generations a realistic opportunity to own their own home.”
John Healey MP adds: “Following the recent referendum vote, fresh thinking and new ideas in areas like housing are more needed than ever. I’ll be carrying on my work on housing, and look forward to the important contribution the Redfern Review will make to our national debate.”