26 Apr ONLY 500 new homes a day are being built across England every day
ONLY 500 new homes a day are being built across England every day – leaving a whole generation of people facing the prospect of being unable to own a property.
The figure, uncovered by the National Association of Property Buyers, comes months after the Government abandoned a target to build 300,000 new homes a year.
Latest figures show why Ministers decided to take that step.
Analysis of the latest official data by the NAPB, shows 46,230 properties were constructed in England between April and June last year… which is about 500 a day.
That’s way off the Government’s previously stated target of around 830 a day.
Commenting, Jonathan Rolande from the NAPB, said: “The rate of new builds is not even keeping up with demand, let alone doing anything to put right the backlog of property building that has developed over decades. Population growth and the increases in the formation of households mean that more people are competing for relatively fewer properties to buy or rent like some awful game of musical chairs. The shortage of property leads to spiralling prices and rents and impacts almost every aspect of our lives including health, social mobility, family structures and the wider economy. We urgently need more homes.”
The last time the UK hit 300,000 a year was in 1977, when 314,090 houses were completed.
Mr Rolande added: “Whether you’re a homeowner, a renter, a landlord or a professional in the property business the chances are that you agree the property market in the UK is well and truly broken.
“House prices have recently reached a record high. Rents are now following them. Wages are failing to keep up with the rising cost of living, including rising mortgage rates.
“While the UK is not alone in having a housing crisis it seems particularly acute here. Reasons probably include our south east-centric economy and the British penchant for owning our own homes.
“It is a very big problem. Our property market is worth £9,000,000,000,000. That’s £130,000 for every person in the country.Contrary to what some might think, the housing crisis is not purely due to a physical shortage of land. Even on our small island there is actually plenty of land available for house building. Especially brownfield land.”
The Government’s long-held ambition to see 300,000 homes built every year were left in tatters last December after housing secretary Michael Gove yesterday abandoned it.
The U-turn on a policy that has been in Conservative Party manifestos for years followed a threatened rebellion by 60 MPs as the Levelling Up and Regeneration Bill makes its way through parliament, and the target will now become ‘advisory’ rather than ‘mandatory’.
