Housing Specification Blog

UK Housing is the Third Least Affordable in the EU

July 20, 2012 Alexandra Blakeman Housing Issues

How can the government satisfy demand for affordable housing? Click on image for original source.

UK housing is the third least affordable in Europe according to a report published yesterday by the European Union.  Approximately 16% of British people claim to feel burdened by rent costs in comparison to just 5.2% of our French neighbours.

Denmark and Greece were the only other countries, out of the 29 in the EU, to report a worse situation than the UK.

Why is it so increasingly difficult to enter into the UK housing market?

Findings published in today’s Guardian claim that first time buyers are more likely to get their foot on the ladder if they’re coupled up, educated to degree level and lucky enough to receive financial help from a family member or friend.

Nothing new there then. The report however does say that these factors are becoming ‘pre-requisites’ to first time house ownership.  Of course, the majority of aspiring home owners aren’t likely to tick all three boxes.

Concerned about the report from the European Union, Campbell Robb, Shelter’s Chief Executive said: ‘These figures are the evidence that the UK housing market is deeply dysfunctional. With so many families spending huge amounts of their income on their rent or mortgage, people will be making daily trade-offs between food bills, filling the car tank with petrol, and paying their housing costs.”

Do you have any comments or experience about the lack of affordable housing in this country or in your area? Perhaps you’re currently in the market for an ‘affordable’ home. Please feel free to leave any comments below.

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