Britain's Housing Challenge: How can the UK Increase Housing Supply, Expand Home Ownership and Restore Affordability for Future Generations?
Housing costs in the United Kingdom, for both renters and buyers, have been rising quickly in recent decades. In England, the median house price is now 7.7 times the median annual wage. This figure stood at just 3.54 in 1997.1 While it used to be the case that a majority of young Britons owned their homes, now only 34% of 25-34-year-olds are home-owners.