THE UK is experiencing a “major housing crisis” and tackling it should be at the top of the new Prime Minister’s to-do list, a leading property group warns today.

The National Association of Property Buyers (NAPB) says the fact that so many people are unable to buy OR rent a home right now is “an outrage”.

In a bid to raise awareness, the NAPB has released a special report on an issue which it says is having a knock-on impact across all areas of society.

Spokesman Jonathan Rolande said: “The UK is experiencing a major housing crisis. Whilst anyone who’s searched for somewhere to buy or rent recently will know this all too well, what’s less discussed is the broader impacts on society. It’s an unprecedented shift creating massive changes to the way we live, work and think about the future. Put simply, the UK’s housing crisis is one of the biggest challenges we face. Fewer and fewer people can afford high-quality accommodation that meets their needs. The UK is in the midst of unparalleled changes to its housing market, both in terms of home ownership and private rentals.

“Given the implications for people all over the country, it’s time to start talking about what can be done to truly fix it – once and for all. The UK’s growing housing crisis needs to become more than just a dinner party discussion about house prices.

According to the NAPB report, in 1991, 67% of 25-34 year olds owned their own home. Today, that’s just 11.2% (and 0.7% for anyone under 24).. According to Rightmove, asking prices increased by over £55,000 this year alone Halifax reported average house prices were £289,099 in May 2022. That’s over ten times the median average UK salary of £25,971. However over the past twenty years, the proportion of people living in rented accommodation doubled.

According to the Homelet Rental Index, average UK monthly rents were £1,103 in May 2022 – up by over 10% on the same time last year. Prices are rising quicker in cities too, with more people returning to office-based work after the pandemic.

It’s not just the lack of home ownership at stake. The housing charity Shelter claims low quality housing impacts the health of over 20% of renters in England.

Mr Rolande said a lack of housing supply was at the heart of the crisis.

“The lack of housing in the UK is pushing competition and prices ever higher, and wages aren’t keeping up. Shocking as they are, soaring rent, home buying and land prices don’t capture the scale of the problem. It’s not just a lack of supply, but also the types of homes on offer.

“In a bid to capitalise on the buy-to-let housing boom, developers are currently constructing mostly two-bedroom homes. This is great if you’re after a two-person flat share but not so great for pretty much everyone else.

“The effects of the UK’s housing crisis are everywhere. With wages failing to keep pace with rents and house prices, vast chunks of the population spend a hefty portion of their income just to keep a roof over their heads.

And the NAPB fears the crisis will also increase wealth inequality.

“A lack of space creates further wealth inequalities, making it difficult to work or study from home and limiting choice of location,” Mr Rolande said.

“Whether staying with parents or renting privately, exorbitant prices, especially in city centres, mean people often live far-away from family and work – resulting in fewer support networks and greater travel costs In turn, this can cause resentment of international immigration as well as shifts within the UK. In areas like Devon and Cornwall locals have long struggled to compete with second-homers and anger is slowly growing. What’s more, wealth becomes less dependent on work and endeavour. It’s instead based almost exclusively on where you’re born and whether you (or indeed a close relative) own property. For instance, inherit a three-bedroom house in central London, and you’ll make more money doing nothing than someone ever could working for the average UK income.

“At the moment, any increases in wealth or wages are immediately eaten up by price rises in the housing sector. It’s easy to see how this can impact the hopes and positivity of younger generations. If things were different, would we see more optimism and a generally more content society? Is at least part of the reason for our obsession with celebrity and social media an effort to distract ourselves from the lack of that most basic of human needs, a shelter, a home?Whilst there are no easy solutions to the UK’s housing crisis, one thing’s certain, the current supply both in terms of quantity and quality isn’t meeting the needs of society. Whether buying or renting, people deserve better.”