4/ Successive Labour and Tory governments simply didn't build enough. No 🚀 science. New homes built per 1,000 has declined y-o-y, at a rate of 2.1% p.a. We built 8 homes per 1,000 in 1936 ffs (well pre-Blitz) and 2.1 in 2013.

But yeh, it's the immigrants...

3/ Grey line ⬇️ is new homes built per 1,000 people p.a.

Between 1945 and 1968 we built more new homes at a growing rate. 4.6 per 1,000 people in 1948, rising to a high of 7.7 per 1,000 in 1968.

Every year, 2.6% more (per capita!) than the last. And then? ▶️

2/ Looking more granularly⬇️ it goes up to 0.55% p.a. after WW2, down to 0.21% p.a. after the 60s, back up to 0.67% p.a. post 2004. You could say 2004+ is quite an increase, or that it's catching up on below-trend growth before.

Next - how does all this compare housing? ▶️

1/ Going back to 1911 ⬇️, the historical trend is a relatively stable average growth rate of 0.43% p.a. with a few ups and downs around the trend as usual ▶️