New research out from the Ministry of Housing, Communities and Local Government has shown that between 1991 and 2016, mass migration increased house prices by 21%.
Essentially, it sets out how population growth between 1991 – 2016 led to a 32% overall increase in house prices, with two-thirds of population growth driven by non-UK born people, thus accounting for a 21% increase.
As the report sets out: “In 1991, the population of England was 47.1 million. In 2016, the population of England was 54.5 million. This is equivalent to an increase of 16 per cent over this period (1991 to 2016).
“Applying the relationship from the University of Reading model set out in the methodology section above (a 1 per cent increase in the number of households leads to a 2 per cent increase in house prices) 7, this increase in the population is expected to have led to a 32 per cent increase in house prices.”
“Over the same period (1991 to 2016) the non-UK born population of England increased by 4.8 million; from 3.5 million to 8.4 million (these figures do not sum due to rounding). Applying the relationship between household growth and house prices derived from the University of Reading affordability model, the increase in the non-UK born population in England is expected to have led to a 21 per cent increase in house prices; holding all else equal.”
Immigration & house prices gov pub: Reading model suggests total population growth 1991-2016 led to 32% increase in house prices. c. 2/3 pop growth was non-UK born people. So that part of pop growth led to 21% house price increase. https://t.co/DOEoZXz7ys
— Helen Barnard (@Helen_Barnard) April 13, 2018
Sadly things are set to get even worse. The UK’s population is forecast to increase by 3.6 million (5.5%) over the next decade, with England’s population set to surge by an eye-watering 5.9% in just 10 years.
This is all insane and underlines why there is such public concern over mass migration. When are politicians going to get their fingers out and bring numbers down to the tens of thousands net each year like they promised?