Housing Finance Review 1999/2000

Running head 1 Housing Finance Review 1999/2000 Steve Wilcox Published for the Joseph Rowntree Foundation by the Chartered Institute of Housing and Council of Mortgage Lenders Contents of the Housing Finance Review 1999/2000 Acknowledgements 3 List of figures and tables 4 Introduction 9 Section 1: Contemporary issues Section 2: Commentary Section 3: Compendium of tables 1 British housing in the twentieth century: an 1 Economic prospects and public Housing, the economy and public end-of-century overview expenditure 59 expenditure 91 Alan Holmans 11 2 Dwellings and households 65 Dwellings, stock condition and households 109 2 Five cities: a century of change Richard Salter and Steve Wilcox 20 3 Private housing 69 Private housing 143 3 Back on the Agenda: housing policy and 4 UK housing expenditure plans 73 Social housing expenditure plans 160 devolution in Scotland Michael Thain 41 5 Housing needs and homelessness 80 Homelessness and lettings 197 4 End of the Empire: housing policy in a 6 Help with housing costs 86 Help with housing costs 211 devolved Wales Peter Williams 50 Housing Finance Review 1999/2000 3 Acknowledgements his annual compilation of statistical data would Holmans at the Department of Land Economy, entirely the responsibility of the editor. The views Tnot have been possible without the substantial Cambridge University, Richard Salter (Ladymead expressed in the Review are the responsibility of the help and guidance of a host of civil servants, at the School, Taunton and Open University), Michael respective authors. Department of the Environment, Transport and the Thain at the Chartered Institute of Housing Regions, the Treasury, the Scottish, Welsh and (Scotland), and Peter Williams at the Council of Steve Wilcox Northern Ireland Offices, the Department of Social Mortgage Lenders. July 1999 Security, the Office for National Statistics, and Centre for Housing Policy elsewhere. This year the Review has a new production team, as it University of York has become a joint venture between the Joseph Heslington Similar assistance was given from the Council of Rowntree Foundation, the Council of Mortgage York YO1 5DD Mortgage Lenders, the Housing Corporation, Lenders and the Chartered Institute of Housing. 01823 323891 Scottish Homes, Housing for Wales, the National Thanks are thus due to Alan Dearling and Jeremy Housing Federation and the Scottish and Welsh Spencer for their hard work, support and creative Federations of Housing Associations, the Local contributions in producing this millennium edition Government Association and others. of the Review. The enormous help they have all once again It is also appropriate at this point to once again provided in the compilation of this year’s edition of thank David Darton and Sharon Telfer, and their the Review is most readily and gratefully colleagues at the Joseph Rowntree Foundation, for acknowledged. all the support they have provided in producing the previous editions of the Review, and for setting the Much of the statistical data presented here is very high design and production standards that it is generally available in a variety of published, or hoped this year’s edition maintains. publicly available, statistical series, and sources are comprehensively acknowledged against each table in For all the diverse help provided, and despite every the Review. attempt that has been made to check and double check all the figures included in the Review, and the The editor is also particularly grateful to the direct construction put upon them, the final responsibility contributors to this year’s edition of the Review, Alan for any errors, omissions or misjudgments are Housing Finance Review 1999/2000 4 List of figures and tables The main tables included in the Review are located in Section 3: Compendium of Table 10** General Government Financial Balances as a percentage tables. Table numbers 1-114 all refer to this Compendium. Other figures and of GDP 99 tables are included in Section 1: Contemporary issues and Section 2: Figure 2.1.1 Housing spending rises as a proportion of total consumer Commentary, and the reference numbers refer to the Section, Chapter and expenditure 61 specific table or figure (e.g., Table 1.2.2 in the Contemporary issues section). Data Figure 2.1.2 Employment prospects for 1997 to 2006 62 in tables and figures are frequently rounded and/or updated and therefore will Table 2.1.1 Employment trends and forecasts (by broad industrial sector) 63 not always add up exactly. Table 2.1.2 Employment trends and forecasts (by composition of employment) 64 All the tables below contain UK-based figures unless otherwise indicated in the Figure 2.5.1 Losses of manual jobs greatest in major urban areas 83 table title. Where English regional figures are shown, this is indicated in the title. Figure 2.5.2 Real unemployment and social housing surplus 1997 84 Tables showing breakdowns between England, Wales, Scotland and/or Northern Ireland are indicated with a single *, and those showing international Housing and local economies comparisons with two **. Table 1.2.1 General table for the five cities based on data from HMSO, 1908 22 Table 1.2.2 Earnings and housing in London and five cities at the end Housing, the economy and public expenditure of the 20th century 23 Figure 1.2.1 Decline in manufacturing employment in five cities 24 Housing and the macro-economy Table 1.2.3 Main occupations in Bristol 27 Table 1 Key economic trends 92 Table 1.2.4 Main occupations in Glasgow 29 Table 2 Average male and female earnings in Great Britain 92 Table 1.2.5 Main occupations in Leicester 32 Table 3 Household disposable income, consumer spending and Table 1.2.6 Main occupations in Liverpool 36 savings 93 Table 1.2.7 Main occupations in York 39 Table 4 Measures of employment and unemployment 94 Table 5* Regional claimant unemployment rates 95 Public expenditure Table 6 Personal housing wealth, borrowing and net equity 96 Table 11 The Budget Economic Forecast 100 Table 7 Equity withdrawal 96 Table 12 General Government Expenditure, General Government Table 8** Gross fixed investment in residential building as a Receipts and Public Sector Budgets and Borrowing 101-102 percentage of GDP 97 Table 13 General expenditure and borrowing in cash and real Table 9** Growth of real Gross Domestic Product 98 terms, and as a percentage of GDP 103 List of figures and tables 5 Table 14 Public sector capital expenditure 104 Tenure profiles and characteristics Table 15 General Government Expenditure by function, and in Table 28 Property characteristics by tenure in Great Britain 133 real terms 105-106 Table 29 Tenure profile of heads of household in Great Britain 134-136 Table 16* Departmental Expenditure Limits (DEL) and Annually Table 30 Race by tenure, dwelling type and occupation standards Managed Expenditure (AME) 107-108 in Great Britain 137-138 Table 31 Tenure, cars, consumer durables and second dwellings in Great Britain 138 Dwellings, stock condition and households Table 32 Employment status of household heads by tenure 139 Table 33 Employment status of recently moving household heads Demand for and provision of dwellings by tenure 140 Table 17* Dwellings by tenure in the UK by country 110-113 Table 34 Incomes of household heads by tenure in Great Britain 141 Table 18 Gross fixed capital formation in dwellings 114 Table 35 Tenure and sources of income in 1997/98 141 Table 19* Housing starts and completions in the UK by country 115-120 Table 36 Tenure and gross household income in Great Britain Table 20* Right-to-buy in Great Britain by country 121-122 1997/98 142 Table 21* Changes in regional stock of dwellings by tenure 123 Figure 2.2.3 A half of tenant households below retirement age in Table 1.1.1* Population and households 1901-2001 12 employment 68 Figure 1.1.1 Households grow faster than population 13 Table 1.1.2* Dwellings, households, vacants and sharing 14 Figure 1.1.2 Crude household dwelling deficit eradicated 15 Private housing Figure 1.1.4 Falling over-occupation, rising under-occupation 18 Figure 2.2.1 Small downward revision in projections of household Level of market activity growth 66 Table 37 Numbers of property transactions in England and Wales 144 Table 2.2.1 Household projections by government office region 67 Table 38 Numbers of mortgage advances per year in Great Britain 144 Figure 2.2.2 Overcrowding still an issue for ethnic minorities 68 Table 2.5.3* Internal net migration in England 1991 to 1997 83 Home lending in relation to income and wealth Table 39 Building Society advances 145 Housing conditions Table 40 Advances to first-time buyers and former owner-occupiers, Table 22* Households lacking amenities by tenure and territory 124 and annual changes in house prices, mortgage advances Table 23 English housing conditions: repair costs and unfitness 125 and incomes 146-147 Table 24 Welsh housing conditions: repair costs and unfitness 126 Table 41** Housing wealth, borrowing and equity 148 Table 25 Scottish housing conditions 127 Figure 2.3.1 Mortgage rates fall to historic low 70 Table 26* Renovation grants paid to private owners 128-130 Table 27* Number of local authority, new town and housing Land and house prices association dwellings receiving renovation grants 131-132 Table 42* Regional land prices per hectare (for private sector Figure 1.1.3 Households in dwellings without standard amenities 16 housing) 149 Housing Finance Review 1999/2000 6 Table 43* Average regional house prices 150-151 Figure 2.4.2* Gross public housing investment in Great Britain falls to

Load more