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Housing co-operatives are uncommon in the UK, making up about 0.1% of housing stock. [103] Most are based in urban areas and consist of affordable shared accommodation where the members look after the property themselves. Waiting lists can be very long due to the rarity of housing co-operatives.
Public housing became needed to provide "homes fit for heroes" in 1919, [5] [6] then to enable slum clearance.Standards were set to ensure high-quality homes. Aneurin Bevan, a Labour politician, passionately believed that council houses should be provided for all, while the Conservative politician Harold Macmillan saw council housing "as a stepping stone to home ownership". [7]
The affordability of housing in the UK reflects the ability to rent or buy property. There are various ways to determine or estimate housing affordability. One commonly used metric is the median housing affordability ratio; this compares the median price paid for residential property to the median gross annual earnings for full-time workers.
These new housing associations were also the providers of most new public-sector housing. By 2003 36.5% of the social rented housing stock was held by housing associations. [3] Currently, some of the biggest housing associations in the UK are Clarion Housing Group, Sanctuary Housing, L&Q and Peabody Trust, to name just a few.
The number of people aged 65 and over in the UK is set to grow from 11.6 million in 2015 to 17.2 million by 2035, an increase of more than 50%, while the number of people aged 85 and over is set to more than double from just over 1.5 million in 2015 to almost 3.2 million in 2035, an increase of over 131%.
Aware of its upward effect upon house prices, George Osborne handed oversight of Help to Buy to Governor of the Bank of England Mark Carney. [12] Carney pledged to bring the scheme to an end if the Bank deemed it to be destabilising the housing market, [13] though it was later confirmed by Carney that the UK's central bank had not, in fact, been granted a veto by the chancellor. [14]