Mid­land home own­er­ship plum­mets in last 10 years

Solihull News - - FAITH MATTERS -

FEWER peo­ple own their own home in the West Mid­lands – and far more are rent­ing from pri­vate land­lords.

Home own­er­ship is down from 63 per cent of house­holds ten years ago to 57 per cent to­day.

And the pro­por­tion in pri­vately- tended ac­com­mo­da­tion has surged from 9 per cent of house­holds to 19 per cent.

At the same time, pri­vate sec­tor rents have risen much faster than in­fla­tion and are now on av­er­age over £ 700 per month, the high­est out­side Lon­don, the South­East and South- West.

The fig­ures were com­piled by think tank the Hu­man Cities In­sti­tute.

They were high­lighted by Labour MP Ian Austin ( Lab Dud­ley North), as he called for new ideas to tackle the re­gion’s hous­ing cri­sis and en­able more fam­i­lies to buy or rent a home of their own.

Speak­ing at the an­nual gen­eral meet­ing of hous­ing as­so­ci­a­tion Ac­cord Hous­ing, the MP and for­mer Hous­ing Min­is­ter said £ 11 bil­lion in­vested in lo­cal coun­cil pen­sion funds in the re­gion could be used to build homes.

He called on West Mid­lands mayor Andy Street to do more. He said: “I think we need a mayor who will come up with new ideas to raise fund­ing for the homes lo­cal peo­ple need.”

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