Ben Hopkinson argues that the UK's housing shortage stems from both slow building and high migration. The UK would need 6.9 million more homes to match the average of major Western European countries, with England accounting for 6.2 million, and England's housing stock has grown 0.82% a year since the early 1980s versus France's 1.07%. Matching France's pace would have added 2.9 million homes, enough to close half of England's shortage, while capping net migration at 100,000 a year since 1997 would give about 473 homes per 1,000 people, roughly a third of the gap. The author estimates that if net migration had stayed in the tens of thousands since 2020 rather than at record levels, house prices in England would be about £15,270, or 5.2%, lower. He concludes that current and future policy choices will determine whether the shortage closes or grows.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Are NIMBYs or migration driving the united kingdom housing shortage ?
Read the original on cityam.com ↗
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