Published: 6th Jun 2019

4.8 million households in England are facing ‘grave’ financial problems related to housing, according to the Affordable Housing Commission. They’ve proposed a new definition of the term ‘affordable’, which they say has been abused by developers. The report paints a worrying picture of the UK’s housing crisis and says that one in five (21%) of all households and almost 40% of those in the lower half of income distribution are struggling with the costs of housing. The Affordable Housing Commission, chaired by Lord Best, was established by think tank the Smith Institute with the support of the Nationwide Foundation, to examine the causes and effects of the current housing affordability crisis and propose workable solutions. In the Commission’s new report, ‘Defining and measuring housing affordability – an alternative approach’, it launches a new measure of ‘affordability’ looking at it in the context of household incomes and what people can afford, … (To read the full article, subscribe below)