If the average population of the U.K. has been around 60 million since the sixties,?

Question

tens of thousands of houses have been built,even whole towns have been built, Why is there a shortage of homes and why have property prices continue to rise at such a rate

Answer 1

There are various reasons, some more tenable than others. One of the more obvious ones and one I'd like to focus on is foreigners arriving in major UK cities resulting in a hike in property prices across the country.

Statistically there are over a million South Africans in London alone, over a million Australians across the UK. I'm not sure about the figures of current EU residents such as France, Italy or countries that recently joined the EU such as Poland but they are significant.

With the pound being one of the strongest currencies and the UK being as dynamic and beautiful as it is, rich with culture, history and invention, it figures that it is one of the top attractions for visitors, travellers and people who want to settle.

More people arriving in UK cities results in less living space. The immediate knock on effect is that space becomes a commodity. Renting multiple properties in cities becomes a lucrative option and developers move in. Where there's development, local communities invariably get on the bandwagon and make a few extra bob. Suddenly property prices as climbing.

The consequent of this is that the English work force subsequently cannot afford to buy property in cities. Their only option is to buy affordable property in the country and commute to work. This in turn increases the value of property in the country and again the local communities jump on the bandwagon and before you can say 'voila', you have a mini boom of property price.

Experts have predicted for a considerable time that the property boom may well result in a sudden and devastating crash: that a point will come where people can't afford the prices, especially first time buyers, and the value of property will plummet.

Answer 2

Flipping good question!
But they have been knocking down blocks of flats. Therefor having to build individual houses.
I know that can't be the whole reason but it must have contributed.
Also, in the 60's many generations lived under the same roof. Now that doesn't happen so each generation has their own house.

Answer 3

the population has increased since the 1960s when it was around 50 million.

Answer 4

I thought it was about 35 million in the sixties.. Are you certain that you have your facts right?

Answer 5

yes your right there are alot of new housing developments being built but there are also alot of areas that have empty buildings just sitting there and crumbling away.

Answer 6

because people need homes and they can charge extortionate rates as a place to live is a necessity its another way for the rich to get richer

Answer 7

Hidden agendas,hidden agendas

Answer 8

Greed, our greed.