In 2023-2024, only 62,289 affordable homes were completed in England, a 2% decline from the previous year. Alarmingly, housing starts fell by 39%, with just 43,439 initiated—the lowest since 2016-2017.
Urban areas are hit hardest, where soaring demand and limited supply have driven rents to record highs. In London, rents surged by 11.6% in November 2024, pushing the average monthly rent above £2,200.
Government Targets and Challenges
To address this, the government aims to build 1.5 million homes during the current parliamentary term, requiring 370,000 approvals annually. Plans include streamlining planning policies and utilizing green belt areas.
However, critics argue that reliance on private developers is insufficient. Experts call for significant public investment in social housing to truly address the shortage.
The Path Forward
Bridging the housing gap requires bold reforms and substantial investment. By prioritizing affordable and sustainable solutions, the UK can move closer to ensuring everyone has access to safe, affordable housing.
