Current challenges facing the United Kingdom housing market are causing growing concern amongst the UK public, with only one in five believing there are enough affordable homes in their area.

According to Property Reporter, new research from Lloyds Banking Group reveals that 67 percent don’t believe that the housing market is currently helping people access affordable and quality homes in their area. This news comes as house prices reach record highs and activity levels remain robust.

Despite 57 per cent of young non-homeowners feeling positive about the prospect of owning a home one day, top concerns amongst all UK adults still include; unaffordable house prices, 64 per cent, lack of social housing being built 47 per cent, deposit requirements 44 percent and a lack of availability of quality, affordable rental properties 39 percent .

The Managing Director Intermediaries, at Lloyds Banking Group Esther Dijkstra said, “House prices and transaction volumes, even among first-time buyers, have remained strong during the pandemic. However, this research also shows that many people consider the continued strength of prices as the biggest factor preventing people from accessing quality and affordable homes.

“At the same time the pandemic is reshaping what we want from our homes, but large parts of the public feel that currently where and how homes are being built is not meeting the needs of local communities.

“Understanding these trends, particularly at a local level, will be vitally important in ensuring where and how we build homes keeps pace with changing needs of individuals and local communities. That’s why, as part of our commitment to help Britain recover, we are working across the industry to collectively work out how we deliver the high-quality, sustainable and affordable homes that the country needs.”

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