Rightmove slams major parties for ignoring growing housing crisis

In an unusually outspoken intervention into the election campaign, Rightmove has criticised the absence of debate over housing.

The issue has not so far featured prominently in any major party statement and had only fleeting references in the TV debate between Rishi Sunak and Sir Kier Starmer earlier this week.

Now Rightmove’s property expert Tim Bannister has issued a statement saying:”At a time when house prices and rents are at record highs, it’s really disappointing to see that housing barely got a look in during last night’s debate. 

“People need to hear much more about what long term solutions there could be to help more people to move, especially renters who weren’t mentioned at all.

“We hope to see housing get much more attention over the coming weeks. There are many complex issues affecting different groups of people that need to be discussed.”

The portal says the undersupply of housing in the UK has contributed to ever-increasing house prices and rents, with national average asking prices of homes now 22% higher than five years ago, at £375,131, and national advertised rents up by 40%, at £1,479 per calendar month

Over the past five years the gap between supply and demand has widened. 

Demand is measured by looking at the number of people sending enquiries about homes for sale or to rent on Rightmove, and since April 2019, buyer demand has risen by 15%, while supply has decreased by 6%. 

In the rental market, demand has increased by 32%, with supply reducing by 38%.