Brits “paying more for less” on housing

Overall, the report shows English homes have less average floorspace per person than many similar countries, including the US, Germany, France and Japan. Meanwhile, Brits have 24% less housing per person than the Austrians and 22% less than Canadians – both of whom have similar consumption levels.  

The UK also has the oldest housing stock of any European country – with a greater share of homes built before 1946 at 38% than anywhere else. This is particularly of concern as older homes tend to be poorly insulated – leading to higher energy bills and a increased risk of damp.  

In total, the Foundation’s research suggests UK households pay 57% more for the same housing as their counterparts in Austria – for example – and 36% more than those in Canada.  

Its research shows New Zealand offers the second worst value for money, followed by Australia and Ireland – all of whom have also been gripped by housing crises.  

The Resolution Foundation’s principal economist Adam Corlett said: “Britain’s housing crisis is likely to be a big topic in the election campaign, as parties debate how to address the problems of high costs, poor quality and low security that face so many households. 

“Britain is one of many countries apparently in the midst of a housing crisis, and it can be difficult to separate rhetoric from reality. But by looking at housing costs, floorspace and wider issues of quality, we find that the UK’s expensive, cramped and ageing housing stock offers the worst value for money of any advanced economy.

“Britain’s housing crisis is decades in the making, with successive governments failing to build enough new homes and modernise our existing stock. That now has to change.”