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Commenting on today’s new National Housing Bank announcement Adrian Plant, Director of SOWN, (part of LRG) said:

It is encouraging to see a further initiative to boost housing.

But as we have done throughout this Parliament, we call on the government not to ignore Shared Ownership as a vital element of the housing mix.

We have seen successive pledges to boost affordable homes, but to date the government has ignored Shared Ownership despite it being a vital route to homeownership

An incomplete response to the housing crisis

For all the political attention paid to housebuilding targets, tenure matters. While social housing provides a safety net for those in greatest need, Shared Ownership offers a springboard. It gives working households – particularly first-time buyers – a credible and affordable pathway onto the housing ladder. That it has been overlooked in today’s announcement is a missed opportunity to support aspiration, boost tenure diversity, and relieve pressure on both the private rented sector and social housing stock.

Who speaks for first-time buyers?

The government must reconsider its silence on Shared Ownership because the homeownership dream is slipping further out of reach for a generation. With rents at record highs, wages stagnating, and savings depleted, the traditional route to buying is no longer realistic for many. Shared ownership was developed to respond to precisely these conditions.

Last week’s Spending Review, like the Labour manifesto before it and the Planning and Infrastructure Bill, makes no meaningful reference to Shared Ownership. In fact, the most recent NPPF mentions it just once – and only in a glossary. This lack of visibility is not just symbolic. It undermines awareness, reduces uptake, and weakens the role that Shared Ownership could play in tackling the housing crisis.

Affordability must include ownership

Housing policy cannot afford to divide people into simplistic categories of need. The assumption that one group requires support through social rent while another should pursue full ownership on the open market leaves little for those in between. Shared ownership helps to fill that gap. It allows people to buy a share of a home, often with a much lower deposit and mortgage requirement, while paying a reduced rent on the remainder. Crucially, it gives them the opportunity to build equity over time and move towards full ownership.

The current emphasis on delivering new social homes is important, but it should not come at the cost of helping working people buy. A more balanced approach – one that supports both renting and gradual homeownership – is essential to creating truly mixed, resilient communities.

No new money, more awareness

Crucially, promoting Shared Ownership is not a real term cost to the government. The homes are already being delivered by housing associations and developers. What’s needed is clarity, consistency and a concerted campaign to raise awareness. A renewed government-led communications strategy could help demystify the model and encourage a new wave of uptake – particularly among older first-time buyers and key workers.

It would also send a message that the government values homeownership as a goal for everyone – not just those who can afford a deposit outright.

Conclusion: a call for clarity and commitment

Last week’s Spending Review made headlines for its scale and today’s announcement of a new National Housing Bank will add to that. But the funding in its current form, it risks entrenching a two-tier housing policy – one that funds homes for rent while neglecting a proven route to ownership. Shared ownership is not a silver bullet, but it is an essential part of the solution. With political will, strategic investment in communications, and a stronger policy footing, it could help thousands more people take that first vital step onto the ladder.

The government has a chance to restore hope and build a housing market that works for everyone. It should seize it – before yet another generation slips through the cracks.