Baby boom to fuel housing crisis

‘Inside Housing’ reports;

“A surge in births in England between 2001 and 2011 will mean millions of people struggle to find housing when they reach adulthood in the 2020s, according to a report from the National Housing Federation which says England is not building enough homes to house the children born in the first 10 years of this century.

‘Young people are trapped,’ the report Housing Britain’s future: some home truths states. ‘England’s housing crisis has stopped aspiration in its tracks.

‘Not enough is being done to tackle our severe lack of affordable housing now but looming on the horizon is an even bigger challenge for the country.

‘Five years from now, the noughties baby-boomer will be reaching adulthood, looking for a job, seeking independence and dreaming of living in their own home.’

The report points to Office of National Statistics figures which show there were 6.9 million births in England between 2001 and 2011 while Communities and Local Government department figures indicate 1.6 million homes were completed over the same period.

The federation also highlighted its own analysis which shows first-time buyer house prices will increase by 42 per cent by 2020 and rents in that year will be 46 per cent higher than they are today. According to Joseph Rowntree Foundation figures, 3.7 million young people will be living with parents by 2020.

National Housing Federation director Ruth Davison said: ‘We failed to fix the housing market for the Eighties baby-boomers because we simply didn’t build enough homes.

‘This means that, even with decent jobs, many are now struggling to raise a mortgage deposit or pay their rent.

‘But rather than learn from past mistakes, the country is still not building enough homes to tackle the problem.’

The umbrella-group calls on the government to look ‘beyond future elections and deliver a long-term house building programme that will create jobs, pump money back into the economy and give hope to millions of young people’.

Advertisements
This entry was posted in Housing, Young People and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s