You are here: Home - News -

Housing shortfall is creating underclass

  • 22/08/2003
  • 0
The Royal Institution of Chartered Surveyors (RICS) has blamed a dearth of decent social housing on ...

The Royal Institution of Chartered Surveyors (RICS) has blamed a dearth of decent social housing on the predicaments facing the market, with over 100,000 fewer houses being completed in 2002, than the yearly average during the 1970s.

Louis Armstrong, chief executive of RICS said: ‘A housing underclass is being created and its numbers are swelling to include people who traditionally would have been able to purchase their own home. House prices in the UK have doubled since 1995 and this means that large numbers of people, particularly in the high value areas have little hope of accessing decent housing.’

In comparison to other European countries, RICS said the UK was providing 10% fewer affordable homes than Germany, Italy and France.

Gavin McGuire, spokesman at the Office of the Deputy Prime Minister said: ‘In terms of social and affordable housing we recognise that in the rural areas there is a problem. However we think that the community plan which was announced last February and the other strategies such as Thames Gateway will help to overcome this problem.’


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
UK housing review enters new phase

The housing industry's consultation period for Monetary Policy Committee member Kate Barker's review...