A leading property expert has called for urgent action on shared ownership. In an open letter to Housing Minister Matthew Pennycook, Adrian Plant highlights the soaring cost of buying a house in the UK. Plant urges intervention before next week’s Spring Statement.

Adrian Plant directs SOWN, a shared ownership provider within Leaders Romans Group. His letter stresses that many first-time buyers cannot access the property ladder.

The Forgotten Housing Option

Despite ambitious house-building targets, Plant argues home ownership remains out of reach. Young first-time buyers struggle with high rents and stagnant wages.

The letter points out a key omission. Shared ownership appears nowhere in recent government announcements. The Labour manifesto and Planning and Infrastructure Bill both omit it. Even the National Planning Policy Framework mentions shared ownership only once – in the glossary.

Previously shared ownership was most popular within the 25-35 age demographic (32-37 in London), but that upper age is increasing, Plant notes. The demographic of struggling buyers continues to expand.

Cost of Buying a House in the UK Continues to Surge

The letter reveals worrying statistics about homeownership:

• First-time buyers now pay almost a third more than five years ago
• Private renters moving to homeownership fell by 23% in the last decade
• Recent Stamp Duty increases and frozen Lifetime ISAs create more barriers

Plant criticizes the current focus. He believes the government prioritizes social housing waiting lists over first-time buyers who want to own homes.

Reducing the Cost of Buying a House in the UK

The SOWN director champions shared ownership as a bridge to full homeownership. This approach could create more inclusive mixed-income communities and foster greater social mobility while making houses more affordable.

Communities such as these are more likely to thrive, as they provide opportunities for upward mobility, encourage community cohesion and reduce the impact of any stigma that can be associated with social housing, Plant writes.

A Call for Government Marketing Support

Plant wants shared ownership to receive the same marketing support as the former Help to Buy scheme. A comprehensive marketing strategy would raise awareness about shared ownership benefits.

People in shared ownership would be able to benefit from the enhanced stability, security and long-term financial growth that this can provide, he states.

Affordable Solutions for Housing Crisis

One compelling argument stands out. Promoting shared ownership would address housing issues at no additional cost to the Exchequer. This makes it attractive for a government seeking housing solutions while maintaining fiscal discipline.

Industry Response to the Cost of Buying a House in the UK

Housing experts view shared ownership as underutilized. This model allows buyers to purchase a property share and pay rent on the remainder. It significantly lowers the initial deposit required.

Sarah Johnson, Housing Policy Analyst at the National Housing Federation, notes that shared ownership has proven effective in helping thousands access homeownership, but awareness remains low. Government backing could transform its impact.

Next Steps

The Spring Statement next Wednesday may address these concerns. Housing ranks among voters’ top priorities. The government faces pressure to present affordable solutions without major new funding.

For many housing experts, shared ownership offers a practical middle ground. It helps more people achieve homeownership while supporting broader housing objectives.

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