Moving matters

Housing costs and labour market mobility

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Moving matters for living standards. Taking a new job in a different firm has a larger pay uplift
than simply being promoted , and moving to a more
productive area comes with an even bigger pay premium. In this note we look at why young people are moving jobs and homes less than in the past, and explore the extent to which diverging housing costs lies behind this trend.

House of the rising son (or daughter): the impact of parental wealth on their children’s homeownership

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The rise of the so-called Bank of Mum and Dad (BOMAD) is much-discussed but until now there has been little analysis of the strength of the relationship between parental support and people’s chances of becoming homeowners. This paper fills this gap: we analyse the association between the property wealth held by people’s parents and their own, stripping out the impact that other factors (earnings, education, etc) have on homeownership.

Home improvements: action to address the housing challenges faced by young people

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How we can tackle one of the biggest issues for young people in 21st century Britain: the housing crisis? In this report we move beyond a diagnosis of the problem to set out a series of policy options relating to three key areas: insecurity in the private rented sector, falling home ownership rates for young people and a long-term lack of house building.

Household debt
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Monetary policy
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Wealth & assets
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Housing

An unhealthy interest? Debt distress and the consequences of raising rates

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Consumer borrowing has been surging over recent months, raising fears that we are storing up more debt-fuelled problems for tomorrow. This note digs into the numbers and focuses on who is taking out all the credit. We consider also how the profile of the UK’s household debt will stand up to increasing interest rates in the coming years.

Home Affront: housing across the generations

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In this, our 9th report for the Intergenerational Commission, we take on the hugely important topic of housing. We compare the housing outcomes achieved by different generations over the life course and assess the extent to which intergenerational inequalities exist when it comes to security, to affordability and to quality. We explore how the housing … Continued

The generation of wealth: asset accumulation across and within cohorts

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Family wealth in 21st Century Britain is huge and growing, rising from £9.9 trillion before the financial crisis to over £11 trillion in the most recent data – more than six times our national income. Significant increases have come from house price rises in the 1990s and 2000s, followed by major growth in private pension wealth more … Continued

The housing headwind: the impact of rising housing costs on UK living standards

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This report explores the question of how incomes and housing costs have interacted over time. It asks a seemingly simple question: how affordable has housing been for different groups in the UK over the last two decades? Through this exercise, we show how housing costs have (or have not) contributed to living standards at different … Continued

Can we fix it? Solving Britain’s housing crisis

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Housing is the subject of much political and media attention – but commentary focuses primarily on rising house prices and declining home ownership. Our research looks at housing costs as a proportion of income over time. This slide pack is the precursor to a report that will be published shortly.

More than a roof: How incentives can improve standards in the private rented sector

The private rented sector is growing and, as it expands, it is housing an increasingly diverse group of tenants, including a higher proportion of people across every income decile and a growing number of families with children. However there are still a range of challenges associated with the sector which need to be addressed. These include variable standards of … Continued

Household debt
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Wealth & assets
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Housing

Mortgaged Future: Modelling household debt affordability and access to re-financing as interest rates rise

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One in ten of today’s mortgagors risk being imprisoned by borrowing deals which are likely to make their repayments unaffordable as interest rates rise over the next four years. Around 770,000 households are both at risk of being ‘mortgage prisoners’ due to a limited ability to switch to better mortgage deals and therefore insulate themselves against future rate rises, and at risk of being ‘highly geared’ where monthly mortgage repayments are eating up at least one third of their disposable income by 2018.

One foot on the ladder: how shared ownership can bring owning a home into reach

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A major expansion of newly built shared ownership could help low and modest income working families across the country onto the property ladder, while keeping their housing costs affordable. One foot on the ladder shows that shared ownership – where buyers purchase at least 25 per cent of the equity in a home and pay a low rent … Continued

Building Homes for Generation Rent

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A low-risk income return of 4.7 per cent should be achievable for institutional investors putting money into the private rented sector – a move which could also help solve Britain’s housing crisis for families on modest incomes. Building Homes for Generation Rent identifies a £140 million property portfolio, made up of almost 800 rental homes around … Continued

Home Truths: How affordable is housing for Britain’s ordinary working families?

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One third of Britain is effectively off-limits to lower-income working families looking to rent a home privately because they can no longer afford a property in those parts of the country. An alarming new report, Home Truths, is the first to give a comprehensive assessment of where less affluent families can reasonably afford to live, … Continued

Household debt
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Wealth & assets
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Housing

Closer to the Edge? Prospects for household debt repayments as interest rates rise

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The number of families in Britain with perilous levels of debt repayments could more than double to 1.2 million if interest rates rise faster than expected in the next four years and household income growth is weak and uneven. The figures suggest that the ongoing squeeze on households could leave Britain seriously exposed if interest … Continued

The challenges of build to rent for UK housing providers

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This briefing note looks at the challenges that build to rent poses for housing providers. It is based on a six month project conducted by the Resolution Foundation and Social Finance to develop a financing model for institutional investment in a build to rent portfolio of 778 rental units nationwide aimed at middle income households. 

Housing in Transition: Understanding the dynamics of tenure change

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England, traditionally seen as a nation of homeowners, is experiencing significant change in the types of housing tenure in which people live. The first part of this report looks back at tenure change between 1993/94 and 2009/10, using the Government’s Survey of English Housing and its successor the English Housing Survey. This historical look breaks the … Continued

Priced Out

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New analysis shows that the rising cost of essentials had already wiped out most of the gains in living standards made in the early 2000s by families on low and modest incomes, even before the recession began, with increases in the price of food, fuel and other basics greatly outstripping general inflation in recent years.

Renting in the dark

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Tenants are being let down by an unregulated lettings market, with significant upfront costs, variable fees and a lack of transparency around charges. In a mystery shopping exercise of letting agents in three cities, the range and type of fees charged varied significantly; for example, administrative fees ranged from £95 to £375. Unlike estate agents, letting … Continued

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