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🚨New housing stats - woo hoo!🚨 LFS data combined with @MHCLG EPC data suggests the surplus housing stock grew strongly again last year to 1.24 million dwellings. Up from 660k in 1996. On latest data it'll probably rise again in 2019-20... 
LFS suggests +131k households in England this year than last, but single years are bumpy. Average of +178k over past 5 years.
So for comparison:
@ONS's revised household projections of 160-170k ✅
Last year's supply of ~240k ✅
Government's housing supply target of 300k ❌🚕
So for comparison:
@ONS's revised household projections of 160-170k ✅
Last year's supply of ~240k ✅
Government's housing supply target of 300k ❌🚕
But you all know it's not about volumes, right? No, we need to look at prices!
Rents are the key - as @BoE_Research explained brilliantly last week. Also echoed my conclusion that the role of supply in price growth has been 'negligible' bankunderground.co.uk/2019/09/06/hou…
Rents are the key - as @BoE_Research explained brilliantly last week. Also echoed my conclusion that the role of supply in price growth has been 'negligible' bankunderground.co.uk/2019/09/06/hou…
For the 3 minute explanation of why high house prices and low home ownership have little to do with supply - and why it's time for a major policy rethink - take a look 👇
And if you've not yet read the paper, don't worry, there's still time to put that right...
housingevidence.ac.uk/wp-content/upl…
housingevidence.ac.uk/wp-content/upl…
