WHAT CAUSED THE HOUSING CRISIS IN ENGLAND?
This post argues:
- Despite denials, there is a strong case for the contention that there is a UK Housing crisis, albeit a more accurate claim would be that there is a series of housing crises.
- These crises are reflected in homeownership decline, mounting homelessness, rising overcrowding and excessive housing costs, especially in the private landlord sector that is rapidly moving up the age-scale,
- Housing supply has not kept pace with demand and need due to restricted land supply, the dominance of the volume builders, government reliance on household formation as a demand/need indicator and the inability of housing associations to make up the deficit produced by the purging of local government from large-scale housing supply. New social housing lettings declined from 334,000 in 2001/2 to 174,000 in 2017/8.
- London is the epicentre of the housing crisis, the outcome of the failure to match housing supply to the population increase arising from economic growth.
- Unmet housing need, reflected in social class, disability, gender and ethnicity, has been neglected in estimating housing requirements.
- Although the decline in homeownership appears to have stopped, it is necessary to make-up the large backlog to constrain housing wealth inequality, protect tenants from high private landlord rents and restrict the mounting benefit costs to state.
What Caused the Housing Crisis in England-converted.pdf