Staggering 85% of the British Are Pessimistic About Housing Crisis Resolution
The recent data by Market Financial Solutions shows pessimistic trends among the British on the resolution of the housing crisis.
Specialists at mortgage lender Market Financial Solutions (MFS) surveyed 2,000 UK adults and analysed the attitudes towards the government and the housing crisis resolution.
What Are the UK Current Housing Concerns?
Data by MFS reveals pessimistic trends among the British on tackling the housing crisis and the government.
The lender surveyed 2,000 UK adults and found out that the majority (52%) thinks of the housing crisis as one of the urgent concerns for society.
Just 14% feel confident about the housing crisis resolution by 2030, while 15% are sure that the issue will not be resolved in their lifetime.
The confidence in the government delivering 300,000 new homes per year is likewise low – just 16% feel confident about hitting the target. Then, 82% of the respondents think that the government is not truly invested in tackling the housing crisis.
Moreover, the research shows how housing issues affect property buying ambitions. Just 30% of the respondents feel confident about owning a property one day. As for the renters, only 20% are optimistic about this housing issue.
What Are The Key Takeaways?
- More than half (52%) think of the housing crisis as one of the current most prominent social concerns.
- Just 15% believe that the housing issues will be resolved during their lifetime.
- Around 16% of the respondents feel confident about the government delivering 300,000 new homes per year for the rest of this parliament.
- Just 18% think that the government is genuinely dedicated to tackling the housing crisis.
What Can the Professional Add?
Paresh Raja of MFS says the research data highlights how the confidence for the housing crisis resolution has fallen. It might be because of the «successive governments setting and missing targets» for building new homes.
This issue is universal for all key players across the real estate industry. The government should accelerate the housebuilding activity, while lenders and private investors likewise need to act.
Some things can be done, such as converting out-of-use commercial spaces into residential properties or transforming derelict buildings. Both public and private sectors need to act towards tackling the housing crisis, and there is no time to waste.