The UK’s housing crisis isn’t a new thing. Since the 1980s, the availability of both affordable housing and social housing has decreased. This has led more people towards renting off private landlords. As a result, more and more people, especially from younger generations, have been pushed away from the idea of home ownership. The demand for housing is at an all time high. On average, the cost of a home being built is £291k. This is just under the peak of £295k seen in June 2022.
The government set a target of 300,000 new homes to be built every year by the mid-2020s, with the goal of offsetting high housing costs. As we hone in on the mid 2020s checkpoint, the goal is still far off being met.
The impact of the UK housing crisis
Homelessness
As of January 2023, roughly 271,000 Brits are considered homeless, with nearly half being children and this figure is only rising. Many of these people, if not in temporary accommodation, will have resorted to sleeping rough. The impact of this is not just personal, as this can lead to nationwide voting issues. Many people will lose their voice when it comes to fixing this exact issue.
New builds with quality concerns
New on-site houses often face rushed production, leading to quality concerns for many new-build homes. The cross-section of development speed, shortage of tradesmen and low-quality materials can lead to an outcome similar to that of the three little pigs. This can also be attributed to the popularity growth seen of prefabricated houses.
Tenant exploitation
The threat of homelessness and long waiting lists has led to tenants in private rents becoming more vulnerable to exploitative tactics from their landlords. Stories of price-gouging monthly rent, illegal overcrowding of accommodation, poor maintenance and eviction tactics are becoming ever so common. The excuse behind it is always the ‘high-demand for housing.’
