England is on course to be lacking more than 1m new homes to meet the demands of a growing population after years of reducing new home build development.
According to research by conveyancing search provider Search Acumen, using official figures from the UK government and the Office for National Statistics (ONS), England has been experiencing a shortfall in the number of new houses being built compared with the number of new households being added to the population for more than a decade.
Search Acumen compared the volume of new homes completed in England each year since 1976 with new dwellings needed to accommodate the growing number of households over the same period. It estimated household growth by assessing annual ONS birth, death and migration data, and used the ONS’ average annual number of people deemed a household to determine how many new homes would meet the extra demand.
According to the data, in the mid-noughties the creation of new households outstripped supply for the first time in three decades – a trend which has accelerated as the population in England has increased. This drop has been exacerbated by the average UK household size reducing by 16%, from 2.78 persons in 1976 to 2.34 in 2016, meaning more but smaller households putting increasing demand on property supply.