The future of housing and home: scenarios for 2030
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The situation today
Housing has complex dynamics, but we can identify a number of key features which shape the current crisis. Critically, there aren’t enough homes: a decade ago the Barker Review noted that around 250,000 homes needed to be built or made available every year to prevent a shortage of affordable homes and spiralling house prices. This target has been missed consistently, which has contributed to house prices becoming increasingly unaffordable. In England the average house price in 2014 was more than seven times the average salary. In a paper written ten years after her landmark review, Kate Barker wrote, “The chronic undersupply of new housing has led to a widespread housing affordability problem, and contributed to high market volatility in rising markets. This in turn generates growing inequality between those who own homes and those who cannot afford to.” The think tank ResPublica observed in its Key Cities report that: “The provision of affordable housing is an i...
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