New research from Strutt & Parker reveals that the housing crisis is moving up the boardroom agenda and is now a serious concern in companies across the UK.

The property consultancy surveyed 1,000 UK executives and business owners about the impact of housing on their businesses. It found that 74% of respondents believe that high housing costs are having a negative effect on their business.

Over half (55%) have lost staff because employees either cannot afford to live in the area or are unwilling to commute, while 73% have struggled to attract new employees because of high housing costs in the area.

The research also found that 71% of respondents are either actively considering investing in residential areas for their employees or are thinking about doing so in future. 

“We asked 1,000 company owners and executives about the impact of housing on their business and they issued a stark warning,” says Stephanie McMahon, head of research at Strutt & Parker’s parent company, BNP Paribas Real Estate. “When it comes to employing staff, high housing costs are restricting growth and profitability. It’s an issue that directly affects the ability of businesses to expand. According to our survey, high housing costs are responsible for a lack of skilled workers applying for jobs and slower expansion due to unfilled positions.”