In numbers: House of Lords housing report explained

 
Nina Edy
Follow Nina
Bank Of England Bail Out Banks To Invigorate Property Market
The report suggested 300,000 homes must be built each year (Source: Getty)

The demand for housing in Britain has a become a hot topic over the past few decades, largely because of its inevitable growing population, rising immigration and rising incomes.

This morning a report by the House of Lords suggested the government's target to build a million homes by 2020 is woefully inadequate. But what do the rest of the numbers tell us? Here’s what you need to know.

Read more: Can they fix it? MPs have launched an inquiry into the UK's housing crisis

300,000

The number of new homes which need to be built in Britain every year in order to fix the UK’s housing crisis

One million

The number of homes the government has previously stated it wants to build by 2020

8.2 per cent

The average house price increase in April 2016

1.8 per cent

The level annual house growth must be cut to in order to decrease worsening affordability

27.6 million

The number of households expected to exist in England by 2037, up from 22.7m in 2014

62 per cent

The proportion of people who currently own homes, down from a peak of 71 per cent in 2003

Working to deliver one million homes in this Parliament is a target we should be very ambitious about, and go beyond, if we can.

- Brandon Lewis, minister for housing

Related articles