3 ms·
Obviously it's a multi-facade problem, but the other commenter was closer to the truth imo. There is no natural population growth in the UK anymore. We have be
by kypro 2y ago
Obviously it's a multi-facade problem, but the other commenter was closer to the truth imo.
There is no natural population growth in the UK anymore. We have below replacement rate birth rates. Immigration is the only net driver of population growth today and immigration is currently growing the population at around 2% annually. We saw similar problems with housing affordability in Canada after their mass-migration experiment. It honestly surprises me that there are still people who deny that mass-immigration policy without a comparable mass-home-building policy would increase house prices. The UK would need to build something like 500,000 homes a year just to keep up with the current rate of immigration. This isn't feasible in any near-term time frame. As it stands, if you want mass-immigration to continue you must accept increased home unaffordability.
Obviously you can offset the impact of immigration by building more houses, and the UK should build more houses, but to say that you would need a sterilisation policy to fix is obviously wrong – you just need to slow the flow immigration and the growth of the population to levels which match the rate at which the UK can build homes and new infrastructure.
The bidding up of property prices in the UK is also an issue and the parent commenter is right to raise it. It's not just dual-income families responsible there though, but also wealthy, foreign and corporate buyers. In the UK property is seen more as an investment than somewhere to live. So here it's quite common for people to buy and hold property simply for the return. Often properties in the UK are brought by foreign investors and left unoccupied. We've tried to make changes to stop this in recent years, but it's a problem.