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Updated · Bloomberg · May 28UK Set to Miss 1.5 Million Home Target by 40% as Annual Builds Trail 324,000 Need
1 articles · Updated · Bloomberg · May 28
- Bloomberg Intelligence projects the UK will fall at least 40% short of its 1.5 million-home goal in the current parliamentary term.
- Just over 200,000 dwellings a year are expected to be created from 2026 to 2029, versus the roughly 324,000 annually needed to meet the target.
- The shortfall threatens a flagship housing pledge that helped bring Keir Starmer’s Labour Party to power nearly two years ago.
- BI said the government needs to do more to stimulate demand and support developers if it wants to narrow the gap.
Beyond building more houses, does the UK need to fundamentally rethink who housing is actually for? As housing costs consume nearly half of incomes, is the UK facing a generation of permanent renters? With development unviable in half the country, how can the government's housing promises ever be met?