The UK housing crisis, explained | Budget 2024

[@LukeDawkins-p4r]

Nothing mentioned about banks, their lending setup and interest rates. Also lending needs to be increased to match the lower income rates for people so they can afford to buy according to banks, without the intention for capital gains. Just good, safe, warm housing for people should be the focus.

[@nickw8071]

Or foreigners

[@djcheckmate1]

profit and greed are the only things in mind, sadly.

[@Donstefanaki]

Of course not. The idea of this BS "report" is to further confuse the working people that are struggling to pay their bills....

[@AlexMasri]

1980s/1990s: Average house prices were around £30,000-£60,000, depending on location. 2023: Average house prices are approximately £280,000-£300,000. Percentage Increase: This represents an increase of around 400-500%.

[@Dogfacedbloke]

I looked at a house in Windermere in 1997 - 3 bed, terraced, slate, £67k. I thought it was too expensive. Last year it went back on sale for £490k and was snapped up. And that's with no improvements other than being decorated.

[@user-xg4td3gg7e]

‘To live is the rarest thing in the world. Most people exist, that is all’ - Oscar Wilde

[@Dogfacedbloke]

No questioning as to the policies that make the population grow. Sky says it like it's a law of physics and must be taken for granted. It's like complaining that strangers are making a mess in your house and claiming the solution is to employ a more efficient cleaner. No, the solution is to lock your door.

[@Patrick-y4d1z]

It's not a housing crisis, it's a migration crisis. Population growth from reproduction is below 2.1 meaning we would naturally decline until we stabilise. Migration of millions every year is causing the "housing crisis" as well as the education and healthcare crisis.

[@sarahcheung6541]

That's simple. Make the UK become an unpopular country to migrate, problem solved. That's what Labour gov is exactly doing.

[@brg9327]

Migration has a significant role in this. But the fact remains that we haven't been building enough houses for decades. Well, before the immigration figures skyrocketed in the past 20 yrs. Having said that. Migration is absolutely not the cause of the current healthcare crisis. That is due to funding cuts and a massively ageing population, which is only getting worse.

[@ImK4Os]

​@brg9327 to add to this, a pensioners costs the taxpayer 10x more in the nhs than the average person. Add that in ans to pretend migrants are the cause of the nhs issues is insane, especially given we have chronically underfunded the service for 15 years, and factoring the low staff numbers for nurses (exacerbated by brexit, a lot our nurses had immigrated here and we depended on that) doctors (junior doctors are being asked to perform surgeries due to short staff in certain hospitals) and a digital infrastructure that was old in 2009 leads to a complete and utter mess. Can rising migration exaserbstr that? Possibly, ij the most minimal of ways, and tbh orovably provides more value than they take, as most immigrants are younger fit to work and a huge portion go into filling the vacancies left in our healthcare systems. Had we voted to stay in the eu, freedom of movement would mean we didnt need to grant residency status. Now, we do. Nice job us

[@ImK4Os]

Also just want to say, if younthink these people cause more competition, how? They come here usualyl with little to no money and the miney they have once exchanged to pounds will be worth even less. Its not the people at the bottom exaserbating prices, its the people who at the top that CAN ACTUALLY BUY THEM

[@Patrick-y4d1z]

@@brg9327 Migration is 100% the cause of this. We haven't been building houses for decades, but we've had a population that is naturally declining for decades. Meaning we didn't need more houses to be built.

[@elliott8626]

We all know the real issue here

[@nickw8071]

Yep, and the foreigner gaslighting us fails to highlight it.

[@TH-1661]

@@nickw8071 foreigner?

[@DeezN1892]

No, It’s not because “muh foreigners”. This is been a problem since before 1997. It has increased identically since 1990

[@nickw8071]

@@DeezN1892 suuure goldberg

[@elvinl.490]

The Program dont mention at all mass migration, more new people needing places for living for them and the family they bring from abroad.

[@jgomo3877]

The narrative must be upheld.

[@Jim90117]

I'm happy for people who were able to build their lives with right to buy but it should never have been allowed to happen. That generation were given a great advantage at the cost of future generations, no society should ever do things like that.

[@neilw.3012]

Yep nothing to do with 25000 new British every 2 weeks.

[@manjeetgill1]

"British"

[@eddiethecounsel]

Some of whom are rich

[@nickw8071]

They’ll never be british no matter how much goldberg will tell us they are

[@gnewgnew2011]

"British" named Mokebe, Jamal, Abdul.

[@kit.tv.]

New builds are often lacking so much. If I was in a position to buy I'd look at

[@JustTakeAMoment]

The right to buy has caused a huge shortage of social housing, yet no one wants to stop it, especially when they personally just benefitted from the scheme.

[@jgomo3877]

Right to buy is intended to help the poor; it doesnt benefit landlords or the like. The right to buy scheme sees property sold to tenants for 15% less than market value; and these sre often people who wouldnt be able to afford to buy under other circumstances. The max amount of discount is 70%.

[@JustTakeAMoment]

@jgomo3877 So don't complain when there's nothing left to rent.

[@davefish8107]

Too many people wanting somewhere to live and the number keeps growing. And how many want housing for free

[@divdep16]

The problem actually stemmed when the conservative party brought in 'right to buy' it created the greatest amount if inequality possible and it still lasts till today. It is and was the main foundational problem. Conservatives did this to become popular and win ordinary people over without thinking of the long term ramifications as if the population wasn't going to grow and people won't need to he housed by someone in the future. The rich got richer from this. As the houses were dirt cheap and salaries were good enough. Now the government members own many of these houses which have been passed down and dont want to redistribute the wealth. But this is what will keep feeding inequality for generations to come.

[@ZodiacDating]

"The UK housing crisis, explained" - not explained at all - 10 years of QE and mass immigration play equally significant reasons

[@Yorkshire7]

Immigrants didn’t stop the government from investing in social housing over the last 30 years, and they’re not the reason why greedy landlords are ripping off people. The government stopped investing in housing,it is the private sector that has been at the forefront of new builds and we know they are in it for the profit. Ordinary working people were able to buy a home in the 70’s, today even well paid people are struggling to get on the property ladder.

[@Justin-yt8zv]

@@Yorkshire7 Why is it on us to invest in housing immigrants?

[@Insightful21]

10 years of QE? Haven't heard about that one before..

[@jgomo3877]

​@Yorkshire7 ask youself "Where does all of the tax money go?" It soon becomes obvious why all of the issues we face never get better and only ever get worse. It is less about lack of government investment; it is more the consequences of government policy over the last 50 years coming home to roost.

[@Insightful21]

@@jgomo3877 More like the time to pay for furlough free money has come to roost. Government bailed out pay to save 10million jobs as per OBR statistics.

[@therivalryan]

They will never meet the demand for housing in the UK, it's nearly impossible. They would need to build over 8,000/10,000 homes per week every week for the next 12 years minimum to meet demand.

[@Dogfacedbloke]

No problem. Starmer has destroyed the family farm meaning that within 20 years 10 million acres of farmland will soon be bought up by developers to build on. That's his intention, anyway.

[@wildandbarefoot]

Its because theres no council housing being built. Low rents keep house prices down. Now its all private sector the market has become unbalanced as people play monopoly with the housing market.

[@manjeetgill1]

All council housing built is given primarily to newly arrived immigrants who are put at the to of the council housing list......

[@Samuels691]

Good thing they’ve reduced RTB and Handing receipts to councils.

[@eXclusive1]

Well this leaves out a lot. Do they think we're stupid?

[@hakeemfrancis1099]

Tbf she did say "increasing population". She also forgot to mention how many MPs are landlords too.

[@_....J........................]

Building more houses will only feed international investment. The UK housing crisis is caused by the international marketisation of UK property market against a backdrop of UK wage deflation over 40 years of neoliberal economics since the fall of the USSR and consequently the West's era of "Embedded Liberalism" i.e, the post-WWII social-democratic settlement (eg NHS, Social Security, Social Housing, State Education including Unversities etc).

[@adamseychell8501]

I agree, the financialization of the property market is the root cause. The housing situation is the same in Australia with the government love to talk about how there is a crisis due to supply shortages but do not dare talk about making homes cheaper, with an aim to reduce house price to income ratios to approaching 1990 levels. Without removing financialization, and investment incentives, then demand will only increase as more property is being built doing nothing to help housing affordability.

[@pamelsims2068]

And no chance of inheriting something from your parents as many offspring have in the past now the chancellor has upped inheritance tax and lowered the threshold.

[@Donstefanaki]

Because of corruption, incompetence, money laundering, and impotent politicians!

[@alvaroodeh4794]

So everyone is relying on council housing?

[@user-ht6dw9px5y]

Why have all the homes gone to the wrong people... Wake up

[@maarsyDTH]

has any one had a look how many houses have been knocked down , total nonsense look at nottingham hardly any houses left in town as they get knocked down for student flats . utter incompitence

[@user-ht6dw9px5y]

Ban ownership on more than 1 home. Simple. Ban agency profiteers as they are responsible for all this mess.

[@damianbutterworth2434]

That would effect MP`s tho so they won`t do it.

[@Daggerworda]

I don’t mind them building more houses, as long as they also invest in improving the town’s infrastructure, amenities and services

[@Samuels691]

Excuse to be a NIMBY.

[@searchingfortruth4783]

@@Samuels691 Excuse for politics of envy, from people with their hand out.

[@Justin-yt8zv]

@@Samuels691 Whats wrong with being a nimby

[@Samuels691]

@@Justin-yt8zv Nothing gets done in the country.

[@Tony-wn8kf]

I brought my council house in 1993 best thing I ever did 😊 shame the government squandered the money though.

[@rikkigriffiths8641]

I've seen nothing but housing estates be thrown up on every patch of grass possible, were are they all going

[@PaulDickson-yi2vw]

And 10 million foreigners

[@Justin-yt8zv]

I have seen new housing estates in every village and town where I live for the last decade but it never seems to be enough does it? I wonder why????

[@BlackNuke145]

Far too expensive, £300k+

[@bigsteve2341]

Absolutely nothing to do with all our new friends arriving daily needing free housing then?

[@damianbutterworth2434]

not one mention. They really are thick as a plank.

[@tonylangridge3003]

I'm 60 lost my house through divorce I'm sure I'm not the only person renting is something I have no choice in and retirement is not an option

[@eXclusive1]

Get to SE asia and live on £500pm

[@georgidotsin3578]

At the moment it’s more affordable to own home with mortgage than renting with this rising rent prices

[@alanrogers9597]

What is Starzie doing to clean up Jas Athwals flats and care homes, who is investigating the thousands he has received from the local borough.

[@wamteng3790]

Housing benefits for private renters is frozen next year.💀

[@silversea217]

These bullies wouldn't last a day in the shoes of those their implimented rules hurt

[@PhillipSanni-j2e]

More than 700,000 immigrants into the UK in the last year alone. Don't behave as if this doesn't any impact.

[@equin9309]

The UK population, which was estimated to be 67.0 million in mid-2021, is projected to rise by 6.6 million to 73.7 million over the next 15 years to mid-2036. We simply cannot build our way out of this issue.

[@alistairmonro]

Probably why they are freezing old folk this winter

[@BlackNuke145]

Average house price for a 3 bedroom home, should be nationally capped at £150k with a ban on 2nd home ownership. I don’t get how these basic dwellings I see being built are worth anymore than that.

[@AndrewEdwards-y9i]

They will make sure migrants are ok

[@SunnyVlogUk]

Immigration is paying alot of the money to home office and nhs not all of them coming by ⛴️

[@AndrewEdwards-y9i]

@SunnyVlogUk they take more than they give

[@SunnyVlogUk]

@@AndrewEdwards-y9i Ofcourse they work hard they deserve for more money why not

[@AndrewEdwards-y9i]

@SunnyVlogUk hahaha 😂 yeh ok

[@damianbutterworth2434]

@@SunnyVlogUk that`s why we have been borrowing 20 billion a year for the past 20 years.

[@Mitjitsu]

I'm guessing open borders policies don't play a part.

[@Jojo-vv9ue]

Scrap Right to Buy just like Scotland has

[@2525Hudson]

If only, we are lead by donkeys, they just don't get it. Constantly complaining about not having enough social housing.......... at the exact same time as selling off the same housing, is just insane.

[@alistairmonro]

Scrapping but to let would be better imo

[@JungleJeffarnold]

One of the reasons reported this 😂 Never ending streams of Migrants

[@fintamaria2429]

Al Jazeera's Investigative Unit goes on the trail of The Minister’s Millions to find out how he built a half-billion-dollar property empire - on a $13,000 salary. Saifuzzaman Chowdhury, a close ally of former Prime Minister Sheikh Hasina, bought hundreds of luxury properties in London, Dubai, and New York, but declared none of them to tax authorities in Bangladesh. The former land minister gives a guided tour of his $14m London home; he owns 360 in the UK alone!!!!

[@JustIssybee]

And that's the reason why the properties prices are so expensive, foreigners are able to buy without paying hefty tax.

[@A-xo6hl]

Pensioner / Over 65's downsize ( I expect 3+ bedrooms are home owners, that's then potentially going towards 61% of over 65s who could sell, free up family homes and personal funds. I agree then that potentially 61% don't need winter fuel payments, assistance.): 'Overall, amongst all older households, 13% reported having one bedroom, 25% two bedrooms, 40% three bedrooms, 17% four bedrooms and 4% five or more bedrooms. Number of bedrooms varied by tenure.' English Housing Survey: Older people's housing, 2020-21

[@Sachin-j4n7s]

I think because of oligarcs

[@tg92277]

Artificially low interest rates, shortage of properties. Even those which are built are pretentious, overpriced and in areas away from the jobs and schools etc. Throw on top of this population increases and see how much worse it will get.

[@alistairmonro]

If they scrapped CGT on the sale of second homes more might pop up on the market. If they hadnt closed nursing homes more elderly might vacate their property. If they didn't prop up the dwindling birthrate less demad would occur. If they stopped but to let it would help people who actually need a home, get one. There is so much more to this issue.

[@user-gz6tx6yp3v]

Supply and demand is a myth. I work in the house building industry, aside from the South East, it is always a challenge selling all the houses. We build in phases and the houses gradually sell. There's plenty. The problem is the prices. This is driven not so much by land cost, but the cost of jumping through all the hoops put in front of us and the taxes that go with it. The endless money printing, vast vanity projects and the lack of affordable supplies due to the cost of energy and supply chains is driving up the cost of homes, not the demand.

[@Justin-yt8zv]

yeah but come on....the demand though, jeez.

[@user-gz6tx6yp3v]

@@Justin-yt8zv If the demand was that great we'd sell all the houses in the first week. They are not queuing round the block. The cost of housing is driven mainly by materials, labour and the council who are charging as much as 17.5% of the site as S106 which is a huge chunk that buyers have to pay in the price.

[@kaya051285]

London prices at least where I am are the same price they were in 2016 so almost 9 years of static prices

[@centrelens]

Prehaps, but the price of rent has gone up about a third in my area of london over the past 2 years

[@kaya051285]

@centrelens roughly correct. 2016-2022 almost zero increase followed by ~25% 2022-2024

[@Dogfacedbloke]

They need to be static for another 50 years to bring them in line with reality.

[@danpoxon2425]

I work in the building trade plenty of houses being built but out of price for first time buyers to get on the ladder ironically the banks won’t give/lend for mortgages even though people are paying that in rent. but it’s the banks buying or propping building houses up they buy the houses then rent them out there selfs off your savings propping banks up they make more money renting houses out than the interest of lending money for mortgages

[@lin90210]

If the government stop spending all our taxpayers money on weapons it might just help. Instead they are lining the pockets of their weapon company friends

[@Laylajes]

This is why I cannot put full trust in Government. This may take years to get sorted and it is not going to be for all. These implementations of new builds that labor is trying for, will it have impact on helping people in 2025? What about fixing up bad housing too?

[@martinpower9023]

Too many people live in country and had no chance of getting a home, salary not gone up and the housing markets are f=÷ked

[@AnonymousPacifist]

Why flood the country🐽

[@daveuk1324]

We need SOCIAL housing not more over-priced "executive" boxes on green fields that simply swell the profits of the donor developers. Planning does NOT need reform. Political donations need reform!

[@danielheredia-ux9nf]

Those companies like Foxtons and Dexter are the winners

[@fintamaria2429]

If they wanted a viable solution, zero growth in the housing market… they would solve the problem of minimum wage workers in the economy. Germany applied this rule!

[@ep5019]

Because 15 million extra people (that we know off) week allowed into this country. Supply and demand let's but pretend it's anything else. There are other contributing factors none are as large.

[@ReconTHG]

Brexit will be followed by UKexit for me

[@perolagrande]

We shouldn't have social(ist) housing at all. Grossly unfair and uneconomic, the taxpayer is being ripped off due to social rents being only one third of private rents. Why should some people get ridiculously cheap housing on the back of the taxpayer? If we are to build social housing, we should be charging proper market rents, not the pittance they currently are let out for. Then councils would have far higher revenue, and be able to fund local services. Too many people are looking to get something for nothing, including subsidised housing. They're not on! Time for people to take responsibility for their lives, and not expect it on a plate from government!

[@coolco1619]

Too true 👍

[@James-l3d4t]

build more tower blocks. a home is a home.

[@golddiggerdave]

The birth rate since 1960 has almost halved yet the population is growing? The young have be deliberately priced out of the market as wages have not kept up with inflation for the last 35 years. Even if wages kept in line since the late 90's minimum wage should be closer to 38k. Wind back the clock to the early 70's a house wage 2-2.5X a wage. its 10-12x today this is the real problem

[@Mrmaddog]

By putting up stamp duty and reducing the threshold at the bottom of the market this will just simply push house buying even further out of the reach of first time buyers, and slow the sales of house's in general which is really bad news for the economy, and by pushing out small private landlords the rental market will reduce massively and push up rents drastically. when will people open their eyes and see that Labour are a disaster for the country and the working class.

[@mcc5901]

Our populist also growing well above the rate of natural increase and that is purely due to mass immigration, not immigration, MASS immigration. It’s a big difference. So, burgeoning numbers will always outstrip supply and it is not the taxpayers duty to supply free housing for anyone who turns up in the UK, we need our income for our families

[@DatOleEditGuy]

Elon Musks printed home technology is ideal for this.

[@coolco1619]

Not enough new homes built!? I see it everywhere secondhand houses up for sale and they're not exactly sold like hot cakes! People are not prepared to do works and want new builds if they have a choice.

[@JustIssybee]

It's because people can't afford to buy it for the lending reason.

[@stephenclipper]

So birth rate has dropped to worryingly low levels but our population has soared more in the last few years than the last few decades. But it’s the right to buy and buy to let which is the problem? Hmm.

[@Lastqueensofireland]

Why would the young want to be straddled and dictated to and be vulnerable by having a mortgage? Is there any point now ?

[@adrianappleyard4005]

Good reporting.

[@davidjewood]

No mention of the elephant in the room 🚣

[@abra7997]

Nice

[@Asylum_4]

Liberalism to blame.

[@JoTac-zm1hb]

Anyone can buy home depends where...

[@petecoventry6858]

First house was £3000

[@urbanspaceman7183]

All good then, as we all know, this government hasn't broken a single pledge yet😉

[@wildandbarefoot]

Place private property in Right to Buy schemes. Because why is there a right to buy community property ?

[@tracylane8098]

because people not from this country buy houses in quantity, when they get to there limit they use family members names to buy more, and they pay cash, rent them out, buy more!

[@Agui007]

A few elite are losing their power and are terrified 😂

[@irson8981]

People don't lnow how to budget

[@Ifyouknowyouknoq]

It’s all just about making the rich richer

[@ellyzabeth8008]

They are talking without actions.

[@Creator250]

Over price houses houses and and private company own so many houses because they have financial muscle power .

[@user-ht6dw9px5y]

Best sell your house 🏡 now as property prices are about to drop..

[@happyfayez3723]

I wish this were true

[@damianbutterworth2434]

Mine costs £28,000 in 1996. Don`t think it will drop below that.

[@DefendYourGains]

Scrap right to buy lmao

[@Samuels691]

Done

[@StevePiner-m6x]

Bricklayers make housing the price are today a joke the money they earn for laying bricks stop the greed u bricklayers sorry had to be said

[@ICantPauseIt]

It's not just "a generation". It's every generation after the first generation.

[@alistairmonro]

Clearly not because, believe it or not, people die.

[@simonmarks1545]

Own my own home? I can only just own a pint of milk🎉

[@shankarbalakrishnan2360]

Thats true i cant own a home i was thinking why we live on 180 billion human fossils and soul not really comfortable lets change it❤❤🎉🎉

[@StephieC]

Erm...reporter doing sarcastic air quotes is just not very professional

[@TimDim-em3pl]

Immergrants

[@skyliner6785]

Lol I know quite a few brickies without work now,it's going rather well 👍

[@jaz093]

Sky news bais.

[@poontang8035]

It’s a fkn joke. 😡😡

[@Niko5black]

Migrants!!!!!!

[@davidlin6953]

Housing price is often related to monetary policy - of the us. Investment flow into the country, and super rich want a vacation home in the UK. This is together with the failing planning system of the UK, created a NIMBY culture, which drives cost of construction with almost half of the cost go as ‘consultancy fee’.

[@damianbutterworth2434]

And 600,000 migrants a year does not help.

[@RudiPurwana-7]

Did all u forget im the rule Gpilot those who sindikating me they must be punishd by police...😌 sorry i have been choose not only been choose theris reason why world choose me cause god Allah its self choose me as u can see destiny as kal el orgin the good one

[@nickw8071]

The audacity of this foreigner telling us about our history trying to explain shortage of properties…. Didn’t hear anything re too many foreigners. Blames English for trying to maintain their country.

[@theascendance]

Welcome to the American economic model introduced by Thatcherism

[@damianbutterworth2434]

It`s always her fault. Nothing to do with Blair or Brown. That`s when it went tits up.

[@theascendance]

@ Blair brown Cameron Johnson truss they all continued on the same path are government is run by the Israeli lobby! Who have always backed both sides that why nothing changes! Thatcherism was the start of it!

[@HarleyButler-ox3qn]

Too many people that shouldn't be hear like the presenter

[@Gooniessss]

Why shouldn't she be here? Enlighten us all?

[@gulagga371]

It is never been easier to buy firrst property. Minimum wage is about £23K, meaning anybody can borrow £103500 and with just 5% deposit requirment move in 2 bedroom in most of the country. Stupid people should stop making videos like that.

[@2525Hudson]

Building the houses is a lot harder than simply controlling who comes into this country !! Or it should be. As a landlord i can say for certain that the extra stamp duty today will stop in its tracks even the few landlords that were going to buy further houses, that will increase rents even more with less choice. What a total mess. Instead of cutting the discount under RTB, it should have been STOPPED.

[@Fabio82586]

Ownership on more than 1 house needs to be banned.

[@damianbutterworth2434]

@@Fabio82586 The MP`s would be effected so they won`t do it.

[@damianbutterworth2434]

my mate went to look at a house and there was Africans look round. They smashed the stair rail off just looking round let alone living there. This is rural Lincolnshire ffs.

[@Fabio82586]

@damianbutterworth2434 MPs could be exempt from it, if anything. Still would put tons of homes back into the market.

[@shaqisumari304]

Median income in UK is big though, GBP6k per month

[@hazJ95]

Lol what?

[@cNr543]

Average UK salary is 34k. So like 2.8k a month. Not even close. This is likely inflated by London as well. Average salary outside of it will be lower.