By: Craig Middleton, Mortgage Sales & Distribution Manager,
Harpenden Building Society
Household growth is one factor affecting overall housing need. The number of new households in England for example is projected to grow by 159,000 per year, based on current trends.
• The backlog of existing demand for suitable, affordable accommodation is often cited as apressure on housing supply, as is desire for more space by households that can afford it.
• There has been a range of research into the amount of new housing needed, with estimates as high as 340,000 new homes per year.
• The government’s target is to supply 300,000 new homes per year by the mid-2020s.
• There is geographic variation in household growth and housing need, with greater