England toughest place to find home in developed world: Report

England is "the most difficult place to find a home in the developed world," according to a Thursday report by the Home Builders Federation (HBF), a group representing companies involved in private home construction. The grim assessment comes amid growing concerns about a housing crisis in the country, with a higher percentage of people living in substandard properties compared to the EU average. "Existing English homes are in the worst condition of all European countries, with 15% failing required quality standards – significantly worse than poorer Eastern European nations," the report said. It also said rapidly rising housing expenses have resulted in 11.3 million individuals in England allocating over 40% of their household income towards housing, surpassing all other European countries in this regard. "England has a dearth of housing, with the lowest rates of available properties compared to its population of all OECD members," it added. It also said the UK boasts one of the most aged housing stocks among developed nations, with merely 7% of British homes constructed after 2001 – a notably lower percentage than countries like Spain, where 18.5% of homes were built after 2001, and Portugal, where that figure stands at 16%. The report also highlighted that the UK has fallen behind its international counterparts in terms of housing affordability, housing condition, and the age of housing stock. Between 2004 and 2021, home ownership in the UK fell six percentage points, dropping from 71% to 65%, it said. In contrast, France witnessed an almost 10 percentage point increase in home ownership during the same period, and the Netherlands saw an impressive 15 percentage point rise, it added. "Decades of housing undersupply has produced startling consequences for people up and down the country looking for a decent home," said Stewart Basely, executive chairman of the federation. "The country is in dire need of more high-quality and energy-efficient new homes. With an election looming and manifestos being considered, today’s research should act as a wake-up call, demonstrating the urgent need to act now to prevent us falling even further behind," he added.