Record immigration is to increase the UK population to well over 80 million by 2046
The current debate about unaffordable housing, particularly in southern England, has raised the issue of net migration and population growth.
Economic benefits from immigration unquestionably exist. But the benefits do not increase in proportion to the numbers settling here, whereas the costs on housing do. There is simply not enough housing to go around, a phenomenon reflected not just in high house prices but also in surging rents.
We have barely enough housing stock to meet the needs of the existing population, never mind the new arrivals.
We estimate that:
The UK population will grow to between 83 and 87 million by 2046 should the level of net migration be allowed to continue at 606,000 per year.
To meet increased demand, Britain will need to build 6-8 million more homes over the same period – equivalent to between fifteen and eighteen cities the size of Birmingham.
High immigration since the late 1990s has helped to drive up house prices by 20 per cent.
Trapped in a dysfunctional housing market, today’s young face a future of extortionate rents and high mortgage rates.
To help solve the housing crisis, the government must act now to cut immigration by a lot.