So, what are the Top 10 affordable housing statistics you need to know in 2022? Here at MovingSoon, we’re on a mission to make affordable housing more accessible. We think it’s important that everyone understands the options it presents, and what could be available to them given their circumstances.
The affordable housing market can be a difficult one to navigate, due to insufficient supply and increasing demand. With the government looking at new ways to create affordable housing to prices soaring on utilities – how can we truly understand the full picture? We’ve collected some key facts and figures surrounding our sector to help you understand!
1. Nearly 8.5 million people in England are experiencing some form of housing need (National Housing Federation, 2021)
The National Housing Federation’s ‘People in Housing Need’ report demonstrates the scale at which housing affects England. Their findings determine that more affordable and appropriate social housing could address and reduce this figure substantially.
2. There were 52,100 affordable homes delivered (completions) and 57,417 starts on-site in England in 2020-21 (Department for Levelling Up, Housing and Communities, 2021)
It’s interesting to see progress being made on the supply and demand issues surrounding affordable housing in England. It should further be noted that 89% of these affordable homes delivered were new builds, demonstrating positive and modern solutions towards increased demand – however, will this be enough?
3. There are approximately 202,000 households living in shared ownership homes in England (House of Commons Library, 2021)
Shared ownership is a fantastic option if your goal is to own your own home. With an increasing number of households selecting this option, it’s still interesting to note that this figure only represents 1% of UK households!
4. General needs (social rent) homes still make up the majority of the social housing sector at 77% of all stock. (Regulator of Social Housing, 2021)
Based on both private and local authority registered providers, social rent homes dominate the social housing sector. Supported housing (housing with care available) and low-cost homeownership (e.g. Shared Ownership or the Help to Buy scheme) were also noted to take up a proportion of the market.
5. London is the most searched location for affordable rentals (MovingSoon, 2022)
Based on our statistics, London continues to be our most searched area for an affordable rental property. Some boroughs are most affordable than others. Kensington and Chelsea are the worst at £2535 per month for a two-bedroom home! Homeview has a fantastic insight into an average for each borough. You check out their blog here.
6. MK9, Milton Keynes is the most searched postcode area for shared ownership homes (MovingSoon, 2022)
Milton Keynes continues to hold the top spot for our most searched area for shared ownership homes. It’s interesting to note that this may be due to more affordable options in terms of space with accessibility to the UK’s capital for a busy working family.
7. Housing association shared ownership sales rise almost 10% in 2020 (Social Housing, 2021)
A report analysed by Social Housing highlighted a boom in shared ownership sales in 2020, especially outside London. The pandemic may have played into this figure, with more people seeking something more from city life, as inner London continued on a downward trajectory.
8. Overcrowding is the largest problem nationally, affecting nearly 3.7 million people. (National Housing Federation, 2021)
Insufficient space for a household within their property is causing difficulty for families up and down the country. With limited affordable options to up-size, the National Housing Federation determined that 1 in every 5 children in England are living under these circumstances. This figure highlights an increased need for demand to be met, especially addressing the property types and sizes available to suit a variety of needs.
9. Based on new lets agreed, average UK rents are now £969 per month (Zoopla, 2022)
2022 has seen unprecedented price rises including our cost of living. With the average UK rental now sitting at £969, it’s increasingly important for households up and down the country to weigh up all the options available to them – including affordable homes.
10. Pet friendly was one of the top 3 amenities searched for when looking for a home to rent (MovingSoon, 2022)
The pandemic proved to be a popular time for families to expand and welcome a pet, with more time available at home. This has made pet-friendly rentals hard to come by, due to their soaring demand. Housing providers will likely advertise this amenity on their listing, so ensure to enquire before making any applications if you have a furry family member.
These are our Top 10 affordable housing statistics. Do get in touch if you think of other stats we should look to add.