New analysis by the Centre for Policy Studies reveals that the UK has a shortage of 6.5 million homes when compared to similar European countries
Their research found that Britain has just 446 homes per 1,000 people, the second worst rate in Europe.
This compares to 560 in France, 516 in Germany, and a European average of 542.
England accounts for 5.85 million of the missing homes, while London has the largest regional shortage at 1.1 million
The research found that Mass migration has contributed significantly to the problem, but the bulk of the shortfall is due to under-building.
France for example, has expanded its housing stock by almost 40% more than the UK, year after year
European evidence suggests that if we had built to the average number of homes per head, house prices would be approximately £75,000 lower
Meanwhile to close the gap by 2040, the UK needs to build 565,000 homes per year, more than double the current rate
Ben Hopkinson, Head of Housing and Infrastructure at the CPS, said:
‘These 6.5 million missing homes should be a wake-up call to policymakers from across the political spectrum. Failure to build more homes means British people, especially those in England, are being condemned to smaller, more expensive houses than our European neighbours. Workers are priced out of our most productive cities, and couples are unable to have the families they desire.
‘It is possible to eliminate the shortage, boost wages, increase disposable income, and make the UK a fairer country generationally and regionally, but we need dramatic changes to our policies on planning, housebuilding, and immigration. The solutions are within reach – politicians just need to show their commitment to truly addressing the scale of the problem.’
