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Homes in England are more cramped than ones in New York City and offer the worst value for money in the developed world (fortune.com)

submitted 7 months ago by [email protected] to c/world

30 comments fedilink hide all child comments

Homes in England are more cramped than those in New York City, according to new analysis that showed UK property offers the worst value for money in the developed world.

The Resolution Foundation found that the UK has the oldest properties in Europe and English homes have less floorspace than many international peers, notably Germany, France and Japan. With 38 square meters on average per person, London homes are even more cramped than those in New York City.

The findings, which also show UK housing costs are also more expensive relative to general prices than in any OECD country, underscore the scale of the housing crisis in Britain. Many younger Britons are struggling to get a foot on the property ladder due to soaring prices, and the issue is rising up the political agenda ahead of an election expected later this year.

“By looking at housing costs, floorspace and wider issues of quality, we find that the UK’s expensive, cramped and aging housing stock offers the worst value for money of any advanced economy,” said Adam Corlett, principal economist at the Resolution Foundation. “Britain’s housing crisis is decades in the making, with successive governments failing to build enough new homes and modernize our existing stock. That now has to change.”

The Resolution Foundation found that if all UK households were “exposed to the full brunt of the housing market, the UK would devote the highest share of overall spending to housing” to every OECD country except Finland.

Some 38% of UK homes were built before 1946, higher than the level of 29% in France, 24% in Germany, 21% in Italy and 11% in Spain. That means British properties by comparison are poorly insulated and come with higher energy bills.

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[–] [email protected] 6 points 7 months ago (1 children)

Older housing being smaller shouldn't surprise anyone.

[–] RatBin 2 points 7 months ago (1 children)

Smaller and old. With modern building methods it is however possible to restore and old building up to modern standards. The question is: is there the will to do it, or are they just sqeezing any pound and pence from these properties without investing anything in return?

[–] [email protected] 1 points 7 months ago* (last edited 7 months ago) (1 children)

Eh you can do the the energy part at great difficulty but you can't fix the size or layout.

[–] RatBin 1 points 7 months ago

Of course, I meant the energy efficiency. No way to get any more space beyond what they have there.