[Diggers350] Slaves To Rent: UK housing is worst value for money of any advanced economy

Tue Mar 26 14:54:59 GMT 2024

UK housing is worst value for money of any advanced economy, says thinktank

https://tlio.org.uk/slaves-to-rent-uk-housing-is-worst-value-for-money-of-any-advanced-economy/

British properties are expensive, cramped and 
ageing compared with other similar economies, says Resolution Foundation

https://www.theguardian.com/society/2024/mar/25/uk-housing-is-worst-value-for-money-of-any-advanced-economy-says-thinktank

Mon 25 Mar 2024

The UKs expensive, cramped and ageing 
<https://www.theguardian.com/society/2024/jan/25/reform-uk-leader-accuses-tories-of-stealing-social-housing-policy>housing 
stock fares poorly compared with other advanced 
countries, analysis by a thinktank suggests.

Households are paying more than other countries  
but 
<https://www.theguardian.com/society/2024/jan/22/richard-blakeway-ombudsman-england-social-housing-health>getting 
less in return, the Resolution Foundation said.

Emacs!

When it comes to housing, UK households are 
getting an inferior product in terms of both 
quantity and quality, the thinktank 
said.<https://www.theguardian.com/books/2024/jan/25/five-of-the-best-books-about-the-housing-crisis>

The Foundations housing outlook used OECD data 
to compare the 
<https://www.theguardian.com/business/live/2024/mar/18/uk-housing-market-spring-revival-asking-prices-china-real-estate-stock-markets-ftse-business-live>UKs 
housing issues with other similar economies.

It said that while there was limited 
cross-national data on floor space, homes in 
England had less average floor space per person 
(38 sq metres) than many similar countries, 
including the US (66 sq metres), Germany (46 sq 
metres), France (43 sq metres) and Japan (40 sq metres).

The UKs housing stock is also relatively old, 
with 38% of homes built before 1946, the report 
said, compared with around a fifth (21%) in Italy 
and one in nine (11%) in Spain.

Older homes can be poorly insulated, leading to 
<https://www.theguardian.com/money/2023/oct/24/higher-energy-bills-forecast-for-uk-households-next-year>higher 
energy bills and a higher risk of damp, according 
to the Foundation, which is focused on improving 
the living standards for those on low to middle incomes.

Researchers also considered what it would cost to 
rent all homes  incorporating what owners would 
pay if they rented their home at market rates  
to show how the market price of housing varies across different countries.

The report said: If all households in the UK 
were fully exposed to our housing market, they 
would have to devote 22% of their spending to 
housing services, far higher than the OECD 
average (17%), and the highest level across the 
developed economies with the solitary exception of Finland.

Adam Corlett, principal economist at the 
Resolution Foundation, said: Britains housing 
crisis is likely to be a big topic in the 
election campaign, as parties debate how to 
address the problems of high costs, poor quality 
and low security that face so many households.

Britain is one of many countries apparently in 
the midst of a housing crisis, and it can be 
difficult to separate rhetoric from reality. But 
by looking at housing costs, floor space and 
wider issues of quality, we find that the UKs 
expensive, cramped and ageing housing stock 
offers the worst value for money of any advanced economy.
<https://www.theguardian.com/society/2024/mar/25/uk-housing-is-worst-value-for-money-of-any-advanced-economy-says-thinktank#EmailSignup-skip-link-12>skip 
past newsletter promotion

Britains housing crisis is decades in the 
making, with successive governments failing to 
build enough new homes and modernise our existing 
stock. That now has to change.

A Department for Levelling Up, 
<https://www.theguardian.com/society/housing>Housing 
and Communities spokesperson said: Housebuilding 
is a government priority and despite global 
economic challenges we remain on track to meet 
the manifesto commitment of delivering one 
million homes this parliament, and have 
introduced reforms to improve the planning system.

At the same time as increasing the quantity of 
homes we are driving up quality, with the number 
of non-decent homes down by 2 million since 2010.

Our landmark renters reform bill is progressing 
through parliament and will give tenants more 
security in their homes, while our £11.5bn 
investment in the affordable homes programme and 
£1.2bn local authority housing fund will help 
build a new generation of affordable and social housing.

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