A ‘Property-Owning Democracy’ or ‘Generation Rent’?
Article first published online: 14 FEB 2013
© The Author 2013. The Political Quarterly © The Political Quarterly Publishing Co. Ltd. 2013 Published by Blackwell Publishing Ltd
The Political Quarterly
Volume 84, Issue 1, pages 53–60, January-March 2013
How to Cite
Lund, B. (2013), A ‘Property-Owning Democracy’ or ‘Generation Rent’?. The Political Quarterly, 84: 53–60. doi: 10.1111/j.1467-923X.2013.02426.x
- Issue published online: 22 MAR 2013
- Article first published online: 14 FEB 2013
- right to buy;
‘A property owning democracy’ has been at the centre of Conservative Party social policy since Noel Skelton coined the phrase in 1924. The idea has been underpinned by contrasting the independent, hygienic, suburban homeowner with the urban, managed, flat-dwelling, high-density council tenant. No Conservative-led government has left office with a homeownership rate lower than when it came to power and the right to buy has enabled this growth to be maintained. However, in 2005, homeownership started to decline and this drop has continued into the Coalition government's term of office with more households now exiting owner-occupation into the private landlord sector than entering owner-occupation from private renting. The ‘reinvigorating’ the right to buy is an attempt put a ‘property owning democracy’ back on track but, should it fail, the Conservative Party may turn to more radical policies such as sale on vacant possession of ‘high value’ local authority and housing association houses.