Private Rented Sector

Part of Opposition Day — [2nd Allotted Day] – in the House of Commons at 3:14 pm on 25th June 2014.

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Photo of Lilian Greenwood Lilian Greenwood Shadow Minister (Transport) 3:14 pm, 25th June 2014

My hon. Friend is exactly right. We do of course need to unlock the ability for small and medium-sized enterprises to get access to finance and to be building the houses that we want.

Many of my constituents, particularly those under the age of 35, would love to buy their own home, but they simply cannot get a foot on the property ladder. Young people who manage to buy often do so only with help from their parents, but in cities such as mine most parents simply do not have the level of savings that would be needed to help their children in that way. The Government’s failure on housing means that an entire generation in Nottingham could be locked out of home ownership entirely, left to cope with the insecurity offered by the private rented sector and facing rents that are expected to soar by an average of 39% by 2020. The Opposition are clear: if the private rented sector continues to make up an ever-increasing proportion of the market, we must ensure that it is fit for purpose, provides good quality, affordable homes and offers tenants the security they so desperately need.