The 2024 UK Housing Review Autumn Briefing Paper, the fifteenth in the series, provides expert analysis and specialist insight assessing the implications of changes in housing policy and investment in the last six months.
It includes the surprising statistic that government spending on housing is now at its highest level: £30.5 billion in 2021/22 compared to £22.3 billion in 1975/76, in real terms.
The huge difference is that – while in the 1970s, 95 per cent of this spending went on building or improving homes, now only 12 per cent does. The main reason for this is the enormous growth of housing benefits.
Author Ralph Mould, an economist with ChamberlainWalker, argues that “To keep overall housing subsidies in the UK stable – or to reduce them – supply subsidies will need to be increased in order to achieve long-term savings on the demand side.”
Commenting on the Autumn Briefing Paper publication CIH chief executive Gavin Smart said: “When we released the 2024 UK Housing Review earlier this year, we highlighted the urgent need for more affordable housing investment. While it is encouraging to see the new government show continuing signs of making housing a priority, the Autumn Briefing Paper gives us further evidence of the critical role government funding and policy have on the housing landscape across the UK.”
Drawing on the latest statistics, the briefing paper covers twelve different topic areas, mainly focusing on the early challenges that the new government faces. Three dedicated pages cover specific policy developments in Scotland, Wales and Northern Ireland. Key themes include:
- The economy and the UK’s fiscal position
- Prospects for shifting housing subsidy towards investment and away from benefits
- The new government’s housing target and whether it can be met
- The housing market, first-time buyers and reform of the right to buy
- Regulation of private renting and prospects for council tax reform
- The ‘net zero’ challenge
- Temporary accommodation for homeless households and for asylum seekers
- Reflections on ‘evidence-based policy making’ in government.
The Autumn Briefing Paper has been co-authored by the UK Housing Review’s team of authors, Mark Stephens, John Perry, Peter Williams and Gillian Young, with contributions from Matthew Scott from CIH, Ralph Mould economist with ChamberlainWalker, Alan Murie emeritus professor from the University of Birmingham, Kate Wareing of Soha, Wendy Wilson former House of Commons Library housing specialist, Francesca Albanese of Crisis and Bob Smith and Joe Frey both from the UK Collaborative Centre for Housing Evidence (CaCHE). The UK Housing Review series is published by the Chartered Institute of Housing (CIH) and the University of Glasgow.
Mark Stephens, professor of urban studies at the university of Glasgow and the Review’s editor, said: “The Briefing highlights the many challenges facing the new government, as well as those in the devolved nations. Encouraging progress is being made with the early action to improve private tenants’ security in England, following earlier reforms in Scotland and Wales. The government’s ambitious housebuilding targets are unlikely to be met without a significantly increased contribution from the social sector. Whilst there is scope for more social homes delivered from developer contributions, a direct fiscal contribution is also needed. Much will depend on economic performance and the more buoyant tax revenues that will flow from that. We know that finances are tight, but it must be hoped that a more enlightened attitude to investment emerges in the Budget on October 30th."
The UK Housing Review Autumn Briefing Paper is a free resource published by the Chartered Institute of Housing, made possible with the support of Campbell Tickell, Clarion, Crisis, Guinness Partnership, the Housing Studies Charitable Trust, LiveWest, London & Quadrant, Midland Heart, the Northern Ireland Housing Executive, Paradigm Housing, Places for People, the Scottish Government, Sovereign, The Housing Finance Corporation, the Welsh Government and the Ministry of Housing, Communities and Local Government.
