Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Social Housing Backlog Could Take 119 Years to Clear, Says Shelter
More than 1.3 million households are currently waiting for social housing in England, according to research by the charity Shelter, as reported by Property118. Last year, only 12,198 new social homes were built across England by councils, housing associations, and private developers.
Shelter's research highlights that for every new social home delivered, 110 households are waiting. At the current rate of construction, it would take 119 years to clear the existing backlog of households seeking social housing.
This ongoing shortage of social housing is a significant issue for the UK property sector. Letting agents and inventory clerks may see continued high demand for private rental properties as a result of the slow pace of social housing delivery.
Source: Property118