The property consultancy Bidwells says that based on an average 300,000 new homes a year it could be four decades before the housing shortfall in England is resolved.
The firm, working from data produced in conjunction with the Office for National Statistics, claims England has a housing shortage of 2.5m homes, and that 550,000 new homes need to be built each year between now and 2031 to clear the backlog and allow for future population growth.
It says that at 300,000 a year by the end of the next parliament - the figure put forward by some political parties - the housing shortfall would not be solved for another 40 years.
The research forms part of Bidwells’ new report, The Productivity Engine, which looks at key barriers holding back UK productivity growth as one of Europe’s most restrictive planning systems and a lack of public sector investment in housebuilding entrenches the shortage.
Bidwells says England is the only major country in Europe where the average number of people per household has not fallen in the last 20 years. This is because high rents and house prices mean that young adults are having to delay leaving home.
It adds that building new homes would help relieve the pressure on government finances. Support for low-income families living in private rented housing has jumped by 50% over the last five years to £13 billion.
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With the introduction of robotics and AI , economic growth will no longer rely on growing the population. In order to increase £ per capita, population decline would work best.
By that time there will be thousands more people looking for accommodation and it will just be the same - no place to rent
I don't think I'd want to predict future population growth or housing need. It depends on global factors as well as domestic issues and future immigration policy. Maybe we need to accept more people per household or look at what other countries are doing?
Personally I think they should focus on building decent retirement developments and get the whole housing ladder moving. We probably already have enough FTB and second stepper properties if people moved up the ladder at the speed they used to. Right now there is a terrible lack of choice for downsizing into after children have left home. Maybe several years before retirement. While no one should feel forced to sell the family pile it would be good if there were desirable alternatives. Plenty of older people would love to have a smaller garden to maintain and a couple less bedrooms but they still want the en-suite, study, utility room, garage, parking, etc.
Sounds reasonable, but given we have a net migration figure of let us say 500,000 to be conservative ( and to help my math 🤔). That would mean an extra 20 million people who would arrive during that period. Have we forgotten about housing them also 🤷♂️. The upshot of all this is that unless you have a decent job and parents who can financially help you…… you’re stuffed 😱😱
Depends on the long term side effects of the you know what …
I think that 40yrs to fix the housing crises ( at today’s known factors) seems credible.
You could be forgiven for thinking that Gov’s would at least want to retain the rental housing that currently exists! Clearly, I’m being way too logical!
Does anyone really believe that the government will solve the housing crisis and build enough homes / social houses as landlords sell up and the BTR companies decide that its not economically viable to build BTR houses? I'm sure that Labour will implement special rules just for them that bypass the rules for everyone else.
Renters Reform Bill disaster for Tenants Mr Michael Gove destroyed them and set them back years. It’s bad enough for landlords with all extra costs / regulations but now I see 3 bed Terrace house unfurnished on Zoopla £2’900. pm on outskirts of Ealing take a look.
I have 2 Semi’s same area £1’600, and another £1’500 pm, Semi’s are bigger rooms all around so am I £4’000. pm short on those 3 alone.
Hang on a minute all mine are licensed didn’t see one for this. All mine are fully furnished now I’ll have to up mine rents it makes me sick thinking about it. Thanks Generation Rant, Shelter and Michael Gove so now you done your damage and walk away and not stand again who’d vote for you now.
Far more than that number will enter the UK illegally every year in the not too distant future, especially under labour! There'll always be a 'housing crisis' in the UK whilst this is happening, even in 40 years time.
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