The UK housing crisis, explained | Budget 2024

Why hasn’t the UK built enough housing? Will young people ever be able to afford a home? Can the new Labour government meet its ambitious house building targets? Sky's Mhari Aurora explains.

[LukeDawkins-pr]

Nothing mentioned about banks, their lending setup and interest rates. Also lending needs to be increased to match the lower income rates for people so they can afford to buy according to banks, without the intention for capital gains. Just good, safe, warm housing for people should be the focus.

[xgtdgge]

‘To live is the rarest thing in the world. Most people exist, that is all’ - Oscar Wilde

[AlexMasri]

1980s/1990s: Average house prices were around £30, 000-£60, 000, depending on location.
2023: Average house prices are approximately £280, 000-£300, 000.
Percentage Increase: This represents an increase of around 400-500%.

[JustTakeAMoment]

The right to buy has caused a huge shortage of social housing, yet no one wants to stop it, especially when they personally just benefitted from the scheme.

[Dogfacedbloke]

No questioning as to the policies that make the population grow. Sky says it like it's a law of physics and must be taken for granted. It's like complaining that strangers are making a mess in your house and claiming the solution is to employ a more efficient cleaner. No, the solution is to lock your door.

[eXclusive]

Well this leaves out a lot. Do they think we're stupid?

[Jim]

I'm happy for people who were able to build their lives with right to buy but it should never have been allowed to happen. That generation were given a great advantage at the cost of future generations, no society should ever do things like that.

[divdep]

The problem actually stemmed when the conservative party brought in 'right to buy' it created the greatest amount if inequality possible and it still lasts till today. It is and was the main foundational problem. Conservatives did this to become popular and win ordinary people over without thinking of the long term ramifications as if the population wasn't going to grow and people won't need to he housed by someone in the future. The rich got richer from this. As the houses were dirt cheap and salaries were good enough. Now the government members own many of these houses which have been passed down and dont want to redistribute the wealth. But this is what will keep feeding inequality for generations to come.

[therivalryan]

They will never meet the demand for housing in the UK, it's nearly impossible. They would need to build over 8, 000/10, 000 homes per week every week for the next 12 years minimum to meet demand.

[_....J........................]

Building more houses will only feed international investment. The UK housing crisis is caused by the international marketisation of UK property market against a backdrop of UK wage deflation over 40 years of neoliberal economics since the fall of the USSR and consequently the West's era of "Embedded Liberalism" i.e, the post-WWII social-democratic settlement (eg NHS, Social Security, Social Housing, State Education including Unversities etc).

[davefish]

Too many people wanting somewhere to live and the number keeps growing. And how many want housing for free

[kit.tv.]

New builds are often lacking so much. If I was in a position to buy I'd look at <1900s architecture not new modern.

[Patrick-ydz]

It's not a housing crisis, it's a migration crisis.
Population growth from reproduction is below 2.1 meaning we would naturally decline until we stabilise.
Migration of millions every year is causing the "housing crisis" as well as the education and healthcare crisis.

[ZodiacDating]

"The UK housing crisis, explained" - not explained at all - 10 years of QE and mass immigration play equally significant reasons

[elvinl.]

The Program dont mention at all mass migration, more new people needing places for living for them and the family they bring from abroad.

[wildandbarefoot]

Its because theres no council housing being built. Low rents keep house prices down. Now its all private sector the market has become unbalanced as people play monopoly with the housing market.

[danpoxon]

I work in the building trade plenty of houses being built but out of price for first time buyers to get on the ladder ironically the banks won’t give/lend for mortgages even though people are paying that in rent. but it’s the banks buying or propping building houses up they buy the houses then rent them out there selfs off your savings propping banks up they make more money renting houses out than the interest of lending money for mortgages

[PhillipSanni-je]

More than 700, 000 immigrants into the UK in the last year alone. Don't behave as if this doesn't any impact.

[alvaroodeh]

So everyone is relying on council housing?

[equin]

The UK population, which was estimated to be 67.0 million in mid-2021, is projected to rise by 6.6 million to 73.7 million over the next 15 years to mid-2036. We simply cannot build our way out of this issue.