According to a damning report by the Home Builders Federation (HBF), homes in England and Wales are the lowest quality yet among the most expensive, in the developed world. The UK’s housing market is ‘reaching a state of crisis’ as the country falls even further behind other developed nations in terms of condition, affordability, and age of its housing stock. England’s homes are of poorer quality than those in eastern European nations such as Lithuania, with fewer new homes than Bulgaria. UK residents spend “exceptionally high proportions” of their post-tax income on housing. Alongside this, In September, the UK witnessed a significant decline in new home construction, leading to the largest drop in construction activity since May 2020. Overall, the construction sector is experiencing difficulties, but there are signs of resilience and potential for improvement in the near future. For further information, see