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More than half a million homes need to be built by 2031 to clear the current supply backlog.
Research from property consultancy Bidwells, based on data produced in conjunction with the Office for National Statistics, reveals that England has a housing shortage of 2.5m homes.
The analysis found that 550,000 new homes need to be built each year between now and 2031 to clear the backlog and allow for future population growth.
This is higher than Labour leader Keir Starmer’s pledge to build 1.5m (300,000 a year) by the end of parliament should his party come to power. At that rate the housing crisis would not be solved for another 40 years, Bidwells warns.
The research forms part of Bidwells’ new report, The Productivity Engine, which looks at the key barriers holding back UK productivity growth as one of Europe’s most restrictive planning systems and a lack of public sector investment in housebuilding entrenches the shortage.
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