England needs 550,000 new homes a year to solve housing shortage, says report

By Nora Redmond2024-06-21T11:08:00

If the UK returned to pre-financial crisis productivity levels, salaries could be up to 25% higher

England is short of 2.5 million homes and needs to build 550,000 each year from now until 2031 to address the backlog and support future population growth, according to consultant Bidwells.

The analysis, based on figures from the Office for National Statistics, form part of Bidwells’ new report, The Productivity Engine, which looks at the key barriers holding back UK productivity growth.

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England needs 550,000 new homes a year to solve housing shortage, says report

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