Remember the 3 million new homes that were needed by 2020? It wasn’t so long ago that this target was being spoken about seriously. Well, today a study by AA Insurance has found that a) 70% of UK homeowners have never had a lodger, but b) that 20% of these are now considering it. At least I think that’s what the figures mean. Let’s assume this is so.
There are around 25 million homes in the UK. So 70% of this is 17 million, give or take. Now if 20% of these 17 million (that’s 3.5million) are now actively thinking of taking a lodger, that will create 3.5million new bedrooms. That’s probably not far short of the number of bedrooms built in creating 3 million homes, as around 90% of these were envisaged as being rabbit-hutch style singleton flats.
So the credit crunch appears to have solved the housing shortage already, without so much as a brick having been laid. And all within 12 months.