Friday, 15 February 2019

England’s running short of housing

THE extent of England’s housing shortage has been exposed by a new report that shows that there are just 825 homes for every 1,000 families.

According to think tank the Resolution Foundation, the gap between the quantity of housing stock and the number of family units is at the lowest point since records began in 1991.

At that time, there were 845 homes for every 1,000 families. This rose to 867 in 1998 before first hitting the current level in 2016.

A spokesman for the think tank said the situation was the equivalent of there being one million missing homes nationwide.

It has meant that more and more families have found themselves having to share privately rented accommodation — with the numbers trebling from 550,000 in 1991 to 1.7million in 2018.

A related phenomenon has been an increase in the number of young professionals having to
flat-share, along with
so-called “boomerang children” returning to live with their parents.

In the decade since the financial crisis, the number of houses built each year has been growing, but not enough to keep up with demand.

New-builds currently total around 130,000 a year — less than half the government’s target figure of 300,000 homes.

Property

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