Posted 3/25/2024, 12:02:14 AM
UK Housing Crisis: Among Worst in Developed World for Size, Quality and Affordability
- UK housing provides worst value for money compared to other advanced economies due to high costs, small sizes, and old/poor quality stock
- UK homes have 38 sq meters of space per person on average - less than the US, Germany, France, and Japan
- 38% of UK homes were built before 1946, compared to 21% in Italy and 11% in Spain
- UK households would have to spend 22% of spending on housing if all rented at market rates - the highest across developed economies except Finland
- Successive UK governments have failed to build enough new homes and modernize existing housing stock