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Coronavirus Is Our Opportunity To Fix Our Broken Housing System

3 2 10
30.06.2020

Every week our scientists have learned a little more about the virus that has locked down our society, our economy, and cost so many lives. But just as the nature of the health crisis slowly becomes clear, so too is the nature and scale of the economic impact.

New research, carried out by Savills for Shelter, adds greatly to the sum of knowledge about what is happening and what will happen. It provides stark context for the Prime Minister’s “build, build, build” speech. It reveals just how much the lockdown recession is spreading into our housing system and, if we do not act, what the cost will be now and for future generations.

For many of us, our homes have been our places of refuge in this crisis. By staying at home we have protected ourselves and others, so it’s perhaps a sad irony that the crisis itself will mean far fewer homes are built. At worst, Savills’ research shows more than 300,000 new homes could be lost over the next five years, with the greatest fall coming this financial year.

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And the cost can be measured in jobs as well – 244,000 fewer jobs this year alone from the reduction in housebuilding, if you factor in construction jobs as well as the wider supply chain.

A safe home and a secure........

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