As more babies are being born to Boston mothers, the increase will continue to add pressure to the over stretched Boston property market and materially affect the local property market in the years to come.
On the back of eight years of ever incremental increasing birth rates, a significant 5.83 babies were born for every new home that was built in the Boston Council area in 2016. I believe this has and will continue to exacerbate the Boston housing shortage, meaning demand for housing, be it to buy or rent, has remained high. The high birth rate has meant Boston rents and Boston property prices have remained resilient – even with the challenges the economy has felt over the last eight years, and they will continue to remain high in the years to come.
This ratio of births to new homes has reach one its highest levels since 1945 (back in 1970’s the average was only one and a half births for every household built the early). Looking at the local birth rates, the latest figures show we in the Boston Council area had an average of 68.6 births per 1,000 women aged 15 to 44. Interestingly, the national average is 61.7 births per 1,000 women aged 15 to 44 and for the region its 61.3 births per 1,000 women aged 15 to 44.
The number of births from the Boston women between the ages of 20 to 29 are much higher than the national average, but those between 35 and 44 were significantly lower. However overall, the birth rate is still increasing, and when that fact is combined with the ever-increasing life expectancy in the Boston area, the high levels of net migration into the area over the last 14 years (which I talked about in the previous articles) and the higher predominance of single person households … this can only mean one thing … a huge increase in the need for housing in Boston.
Again, in a previous article a while back, I said more and more people are having children as tenants because they feel safe in rented accommodation. Renting is becoming a choice for Boston people.
The planners and Politian’s of our local authority, central Government and people as a whole need to recognise that with individuals living longer, people having more children and whilst divorce rates have dropped recently, they are still at a relatively high level, meaning one household becomes two households … demand for property is simply outstripping supply.
The simple fact is more Boston properties need to be built… be that for buying or renting.