Today we have released our latest research with Centre for Economics and Business Research (Cebr) looking at the difficulties we face in resolving the shortfall in housing stock. Some of the key findings from this report are:
- Over the last decade household growth has outstripped housing stock by over 264,000 housing units
- 1.4 billion bricks are required to resolve the current UK housing shortage
- In the decade between 2006 and 2016, the average new UK home shrunk by 8 m², 9.3% or 228 Bricks
“The UK housing market is in crisis, with young buyers unable to get on the ladder, and families continuing to live in houses they’ve out-grown for longer than traditionally they would have had to. Houses may be getting smaller but we are needing to build more of them than ever so ultimately our needs for bricks is greater than before. We need investment in the sector to boost production, and housebuilding needs an image overhaul, to become a more attractive career prospect for school leavers and graduates.
Until this is addressed, we might as well resign ourselves to a life time of astronomical prices and falling levels of home-ownership.”