After decades of failed housing policy, the UK is now facing a housing crisis. Currently, the UK is building around 100,000 homes fewer than is required to keep pace with demand each year which is one of the reasons we are experiencing high house prices. In fact, since 1959, the UK has seen a real term increase in house prices of 300 per cent; if the price of a dozen eggs had increased as quickly they would cost just under £19 today.
Current government forecasts suggest we need to build 232,000 houses per year but the problem is that the UK has only done this once in the last 30 years. The UK’s housing shortage must be addressed as a priority to unlock valuably needed economic growth and to improve the lives of people across the country. That’s why this year, Centre for Cities has focused on how to put place back into housing policy through our annual health check of UK cities, Cities Outlook 2013, sponsored by the Local Government Association.
| City | Affordability ratio (2012) | Vacancy rate (% of stock) | Stalled sites | |
|---|---|---|---|---|
| 1 | Oxford | 14.7 | 2.30% | 385 |
| 2 | London | 13.6 | 2.30% | 101745 |
| 3 | Cambridge | 11.7 | 1.00% | 2188 |
| 4 | Brighton | 11.1 | 2.60% | 1555 |
| 5 | Bournemouth | 10.9 | 2.50% | 1320 |
| 6 | Aldershot | 10.0 | 2.70% | 1526 |
| 7 | Crawley | 9.5 | 1.60% | 1067 |
| 8 | Reading | 9.3 | 1.80% | 3136 |
| 9 | Bristol | 9.0 | 2.40% | 5346 |
| 10 | Worthing | 8.8 | 1.80% | 314 |
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