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<h1><b>UK housing is ‘worst value for money’ of any advanced economy,

says

thinktank</b></h1>

<a href="https://tlio.org.uk/slaves-to-rent-uk-housing-is-worst-value-for-money-of-any-advanced-economy/" eudora="autourl">

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

<br>

</a>British properties are ‘expensive, cramped and ageing’ compared with

other similar economies, says Resolution Foundation<br><br>

<a href="https://www.theguardian.com/society/2024/mar/25/uk-housing-is-worst-value-for-money-of-any-advanced-economy-says-thinktank" eudora="autourl">

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

<br>

</a>Mon 25 Mar 2024<br><br>

The UK’s “expensive, cramped and ageing”

<a href="https://www.theguardian.com/society/2024/jan/25/reform-uk-leader-accuses-tories-of-stealing-social-housing-policy">

housing stock</a> fares poorly compared with other advanced countries,

analysis by a thinktank suggests.<br><br>

Households are paying more than other countries – but

<a href="https://www.theguardian.com/society/2024/jan/22/richard-blakeway-ombudsman-england-social-housing-health">

getting less in return</a>, the Resolution Foundation said.<br><br>

<img src="cid:7.0.1.0.1.20240326145000.0e9f6078@cultureshop.org.uk.0" width=820 height=636 alt="Emacs!">

<br><br>

<br>

“When it comes to housing, UK households are getting an inferior product

in terms of both quantity and quality,” the thinktank

said.<a href="https://www.theguardian.com/books/2024/jan/25/five-of-the-best-books-about-the-housing-crisis">

<br>

</a><br>

The Foundation’s housing outlook used OECD data to compare the

<a href="https://www.theguardian.com/business/live/2024/mar/18/uk-housing-market-spring-revival-asking-prices-china-real-estate-stock-markets-ftse-business-live">

UK’s housing</a> issues with other similar economies.<br><br>

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).<br><br>

The UK’s 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.<br><br>

Older homes can be poorly insulated, leading to

<a href="https://www.theguardian.com/money/2023/oct/24/higher-energy-bills-forecast-for-uk-households-next-year">

higher energy bills </a>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.<br><br>

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.<br><br>

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.”<br><br>

Adam Corlett, principal economist at the Resolution Foundation, said:

“Britain’s 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.<br><br>

“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 UK’s expensive, cramped and ageing housing stock offers the

worst value for money of any advanced economy.<br>

<a href="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</a><br><br>

“Britain’s 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.”<br><br>

A Department for Levelling Up,

<a href="https://www.theguardian.com/society/housing">Housing</a> 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.<br><br>

“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.<br><br>

“Our landmark renters reform bill is progressing through parliament and

will give tenants more security in their homes, while our Ł11.5bn

investment in the affordable homes programme and Ł1.2bn local authority

housing fund will help build a new generation of affordable and social

housing.”<br><br>

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