Wealth & assets· Housing· Intergenerational Centre Game of Homes: The rise of multiple property ownership in Great Britain 15 June 2019 by George Bangham Additional property wealth is a big deal in Britain today. One-in-nine adults own some, and its combined value is almost £1 trillion. By value, it makes up one-sixth of all property wealth. READ MORE
Labour market· Housing· Intergenerational Centre Moving matters Housing costs and labour market mobility 6 June 2019 by Lindsay Judge 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. READ MORE
Wealth & assets· Social mobility· Housing· Intergenerational Centre House of the rising son (or daughter): the impact of parental wealth on their children’s homeownership 4 December 2018 by Stephen Clarke and John Wood 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. READ MORE
Housing· Intergenerational Centre Home improvements: action to address the housing challenges faced by young people 17 April 2018 by Lindsay Judge and Daniel Tomlinson 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. READ MORE
Housing· Tax· Intergenerational Centre Home affairs: options for reforming property taxation 20 March 2018 by Adam Corlett and Laura Gardiner This paper assesses options for reforming property taxation, with a focus on the existing council tax system which now bears far too much resemblance to the unpopular poll tax it was brought in to replace. It sets out a range of options for making property tax fairer, simpler and more economically efficient. READ MORE
Household debt· Monetary policy· Wealth & assets· Housing An unhealthy interest? Debt distress and the consequences of raising rates 12 February 2018 by Matthew Whittaker 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. READ MORE
Housing· Intergenerational Centre Home Affront: housing across the generations 20 September 2017 by Adam Corlett and Lindsay Judge 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 READ MORE
Housing· Intergenerational Centre· Political parties and elections The millennial bug: public attitudes on the living standards of different generations 9 September 2017 by Hannah Shrimpton and Gideon Skinner and Suzanne Hall Drawing on a new quantitative survey of over 2,000 British adults and a qualitative workshop involving members of different generations, this report explores the extent to which intergenerational living standards challenges are reflected in public perceptions. READ MORE
Pensions & savings· Wealth & assets· Housing· Intergenerational Centre The generation of wealth: asset accumulation across and within cohorts 20 June 2017 by Conor D’Arcy and Laura Gardiner 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 READ MORE
Living standards· Housing The housing headwind: the impact of rising housing costs on UK living standards 28 June 2016 by Stephen Clarke and Adam Corlett and Lindsay Judge 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 READ MORE
Housing Can we fix it? Solving Britain’s housing crisis 26 April 2016 by Lindsay Judge 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. READ MORE
Housing· Scotland· Tax Battle of the bands: the prospect of council tax reform in Scotland and beyond 8 April 2016 by Adam Corlett It is 25 years since the UK government announced its plan to abolish the community charge and introduce a new local tax for Scotland, England and Wales. Since then, council tax has undergone almost no reform, and in Scotland and England is still based on property values from 1 April 1991. But now change is afoot, … Continued READ MORE
Housing The Home Stretch: coping with high housing costs 8 December 2014 by Laura Gardiner and Vidhya Alakeson Despite the strain that high housing costs cause, millions of people on modest incomes continue to live in high cost areas and are somehow coping. The Resolution Foundation report explores six ‘coping strategies’ – working more, increasing the term of a mortgage, getting help from friends and family, over-crowding, lowering standards and doubling up. It … Continued READ MORE
Housing More than a roof: How incentives can improve standards in the private rented sector 1 September 2014 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 READ MORE
Housing Housing pinched: Understanding which households spend the most on housing costs 14 August 2014 by Laura Gardiner Close to 1.6 million UK households – the housing pinched – are spending more than half their disposable income on the ongoing costs of housing each month. Not all households spending more than one third of their income on housing (the threshold at which people are far more likely to find making housing payments difficult) … Continued READ MORE
Household debt· Wealth & assets· Housing Mortgaged Future: Modelling household debt affordability and access to re-financing as interest rates rise 20 May 2014 by Matthew Whittaker 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. READ MORE
Housing One foot on the ladder: how shared ownership can bring owning a home into reach 20 November 2013 by Vidhya Alakeson and Giselle Cory and Hannah Fearn 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 READ MORE
Housing Building Homes for Generation Rent 10 October 2013 by Vidhya Alakeson and Katie Blacklock and Sandra Halilovic and Tim Rothery and Nick Salisbury 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 READ MORE
Housing Home Truths: How affordable is housing for Britain’s ordinary working families? 15 July 2013 by Vidhya Alakeson and Giselle Cory 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 READ MORE
Household debt· Wealth & assets· Housing Closer to the Edge? Prospects for household debt repayments as interest rates rise 11 July 2013 by Matthew Whittaker 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 READ MORE
Housing The challenges of build to rent for UK housing providers 24 June 2013 by Vidhya Alakeson 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. READ MORE
Housing Making Institutional Investment in the Private Rented Sector Work 19 July 2012 by Vidhya Alakeson With one low to middle income family in four shut out of home ownership, there is an urgent need for high quality purpose-built rental homes offering more secure tenancies than typically found in today’s buy to let sector. In a context of significant cuts to public investment in housing, the Resolution Foundation proposes that new … Continued READ MORE
Housing Housing in Transition: Understanding the dynamics of tenure change 8 June 2012 by Christine Whitehead and Chihiro Udagawa and Peter Williams and Connie Tang 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 READ MORE
Housing Priced Out 27 December 2011 by Donald Hirsch and James Plunkett and Jacqueline Beckhelling 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. READ MORE
Housing Renting in the dark 8 December 2011 by Louisa Darian 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 READ MORE
