Legal & General launched its “Let’s House Britain” at a seminar of housing experts. The report outlines key issues around housing and calls for consensus on how to tackle the supply side problem of how to build more homes in the UK. As one of the largest UK property investors, Legal & General has identified high quality housing stock as a key asset for society and wants to work with the Government, local authorities,housebuilders, social housing providers, charities and other specialist organisations to create more housing stock in the UK, overcoming issues around access to land, planning and affordability in all forms of tenure.
A new research report released by Legal & General, together with the Centre for Economics and Business Research (Cebr), has quantified the size and shape of the UK’s “Last Time Buyer”(LTB) market for the first time. In doing so, it has identified 5.3m under-occupied homes in the UK, with 3.3m of LTBs looking to downsize. The critical barriers that older people identify are a lack of suitable accommodation, the cost of the available options and tax considerations. L&G sets out ten steps that it believes are key to unblocking the LTB market, with aims to boost the supply and diversity of options available to older people.