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industry news Growing inequalities in housing market revealed


The plight of people who do not own the house they live in has been revealed in a report by the Government’s own spending watchdog. The National Audit Office has published an


overview of the housing market in England, while also reviewing the Department for Communities and Local Government’s housing strategy and the overall housing policy landscape. While housing has become more affordable


for existing homeowners, by contrast housing has become less affordable for first time buyers and for tenants in both the social and private rented sectors. The report states that the proportion of


owner-occupiers who spend at least a quarter of their disposable income on housing has fallen sharply from 40 to 19 per cent of people with a mortgage. But social housing rents have been increasing faster than earnings since 2001-2. Homelessness has also increased over the


past five years. At the end of March 2016, 71,500 homeless households in England were in temporary accommodation, up from around 48,000 in 2010-11.


Imbalance


The imbalance in the housing market has increased as the need for housing has grown faster than its supply. According to the NAO, housebuilding has not kept pace with need, and this is particularly


England’s housing in numbers:


• 23.5 million – Total number of homes in England in 2014;


• £28 billion – Estimated total public sector spending on housing in 2015-16;


• 1 million – The number of new homes that the government aims to deliver in 2015-20;


• £5.6 trillion – Estimated total value of the housing stock in England in 2015;


• £1 trillion – Estimated increase in the value of the housing stock in England since 2010;


• 62 per cent – Proportion of


acute in London. Projections suggest there will be at least 227,000 new households formed each year between 2011 and 2021. This is substantially higher than the annual average of 166,000 extra homes in England over the last 10 years. Delivery of the government’s million new


homes in England that are owner-occupied;


• 20 per cent – Proportion of homes in England that are privately rented;


• 17 per cent – Proportion of homes in England that are socially rented;


• 20 per cent – Proportion of homes in England that were


“non-decent” in 2014, down from 35 per cent in 2006;


• 71,500 – Number of homeless households in England in temporary accommodation at 31 March 2016


• £20.9 billion – Spent in England on housing benefit in 2015-16.


homes ambition by 2020 will require 174,000 net additions each year. The most significant element of Government


expenditure is on housing benefit. In 2015-16 there were 4.1 million claimants in England, costing around £20.9 billion.


20 | HMM March 2017 | www.housingmmonline.co.uk


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