According to The Government’s White Paper on Housing ‘Fixing our broken housing market’, the housing market in the UK suffers from a serious under-supply of homes. Since the 1970s, there have been on average 160,000 new homes each year in England. To put an end to the affordable homes crisis, the UK needs 275,000 or more homes per year to keep up with population growth and start to tackle years of under-supply.
Renting, which has increasingly become very popular for Britons either by choice or out of necessity, is one of the aspects of the UK real estate market that needs reform.
So, how can the government fix the problematic housing market and provide solutions to the rent generation?