Farron: government must address housing crisis

South Lakeland MP Tim Farron has warned of a "housing crisis", as new research shows that home ownership in the North West has fallen dramatically.

Research by the Resolution Foundation shows that across the North West region excluding Greater Manchester and Merseyside, levels of home ownership have dropped to 71.4%. This figure is a significant reduction from the peak of 78.7% back in 1999. In Greater Manchester and Merseyside, the fall has been even greater.

The Resolution Foundation also reveals that the share of income that households in the North West spend on housing has increased by around a third since 2003.

Although the government has tried to tackle this problem, the latest government statistics reveal that its flagship 'Help to Buy' ISA scheme has not helped a single South Lakes resident.

Tim said: "The housing crisis is turning into a national emergency. Wages are being squeezed, and fewer and fewer people are able to get on to the housing ladder.

"The government's attempts to deal with this crisis are clearly failing - almost a million pounds has been pumped into its flagship Help to Buy scheme yet not a single penny has come to South Lakeland.

"If the government does not address this issue, a growing gap will emerge between those already on the property ladder and those who can only dream of getting there."