Is one home enough?

The UK’s housing market is in crisis, decades in the making. Homelessness is rising, with 325,000 households assessed as homeless in England in 2023/24, and over 172,000 children living in temporary accommodation. The affordable sector now accounts for just 16% of all housing, with 1.3 million people on waiting lists. Meanwhile, the Government subsidises the private rented sector by more than £12 billion per year, more than its entire budget for building affordable homes between 2021-26. Home ownership continues to decline, with first-time buyer house prices increasing 16-fold over 40 years, while wages have only increased seven-fold. 

The issue is not only numerical. The lack of stable, affordable housing has profound effects on individuals, families, and communities. It contributes to poor educational outcomes, limited economic opportunity, and increased health problems. These pressures also translate into significant costs for public services, from the NHS to local government and the housing benefits bill. At the root is a lack of decent homes to meet demand. We must understand what people need to live well and what sufficiency looks like for a society committed to housing its citizens fairly. 

A systems-thinking approach is essential. At Leeds Building Society, we have spent over 150 years helping people save and buy homes, and our purpose remains as vital today: to put home ownership within reach for future generations. To achieve this in today’s context, we have reconsidered how we contribute to adequate long-term supply and quality of homes. Changes include ending loans on second homes, launching green initiatives to support the transition to net zero, restricting holiday let lending in pressured areas, and supporting first-time buyers to overcome affordability barriers. 

We are also investing in charitable causes, donating over £1 million this year to improve access to safe and secure housing. Through partnerships with organisations like Barnardo’s, we are tackling the stark reality that one in three care-experienced young people become homeless within two years of leaving care. 

Creating a fairer housing market requires building more homes of all tenures, aligned with the needs of local communities and allowing flexibility for transitions between tenures throughout life. The Government’s Housing Strategy provides an opportunity to embed long-term, joined-up thinking into policy. Proposals include reclassifying housing as infrastructure, establishing independent strategic delivery bodies, and enshrining housebuilding targets in legislation to ensure consistency across governments. 

Place-based master planning can integrate mixed-tenure development with social, economic, and health objectives, supporting multi-generational living and ageing in place. Planning reforms could further strengthen land value capture and streamline approvals to ensure homes meet demand. 

Sufficiency must also embed social mobility, addressing transitions between tenures, right-to-buy schemes, shared ownership, and stamp duty fairness. Housing First strategies, providing permanent housing with tailored support, have proven effective for those with complex needs and must be expanded. 

No single organisation controls these levers, but as the UK’s largest housing association, Clarion can play a convening role. By placing social responsibility at its centre, Clarion can bring together stakeholders, develop a farsighted mission, and realign activities to its central purpose: ensuring safe, secure, and affordable homes for all. Learning from residents’ lived experiences will be essential in designing homes and communities that are fit for purpose and truly serve the people who live in them.