Posted on May 19, 2024

UK Housing Rents Driven by Record Migration, Analysis Finds

Tom Rees, Bloomberg, May 13, 2024

Britain’s rental crisis is being driven by record net migration as housing supply fails to keep pace with a growing population, according to new analysis.

The number of rental households formed by new immigrants has jumped from around 80,000 a year in the 2010s to over 200,000 in recent years, Capital Economics said in a note released Monday. The analysis is based on Office for National Statistics data that suggest 80% of new immigrants rent in the private sector.

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Net migration has soared in the UK since the pandemic, hitting a record of 745,000 in 2022. It has been driven by international students, health-care workers and migrants arriving from Hong Kong and Ukraine.

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