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London | ReNews International Desk News
Britain’s major cities could accommodate at least 1.2 million additional homes around inner city train and tram stations if they matched the housing densities achieved by comparable cities in France and Japan, according to a major new study by the independent think tank Centre for Cities.
The report, “Mind the density gap: How Britain’s big cities can build more homes near train stations,” published on September 2, 2026, examines housing density and mass-transit infrastructure across Britain’s 12 largest cities and compares them with international peers. It concludes that Britain is failing to make full use of land around existing transport infrastructure, contributing significantly to the country’s housing shortage. It is estimated that at least 2.4 million homes are missing around stations across the 12 largest British cities when both inner city and suburban areas are compared with French and Japanese peers. About 1.2 million of that gap is concentrated in innerbcity urban cores.
The largest potential increase is in London, where matching international densities could create more than 500,000 additional homes around inner-city stations. Glasgow has the next-largest potential, with around 183,000 homes, followed by Manchester with approximately 134,000.
The research highlights an unusual feature of Britain’s urban development: housing density does not consistently increase around major public-transport stations. In France and Japan, areas close to mass-transit stations tend to be significantly denser because residents benefit from convenient access to employment, education, services and city centres. In Britain, however, station areas are often no denser than areas further away.
In some cities, the situation is even reversed. Liverpool, Sheffield and Newcastle have lower average residential densities around inner city stations than in parts of the urban core farther from stations, the report found.
The development gap has also persisted over time. Between 2011 and 2021, the average British big city built around 50% fewer homes near stations than comparable cities in France and Japan. Centre for Cities says around 30% of stations in Britain’s major cities experienced little or no development during the period.
Manchester has emerged as one of Britain’s stronger performers. The city added around 30,000 homes around its inner city stations between 2011 and 2021, including developments around Metrolink tram stops. London added approximately 300,000 homes during the same period. Glasgow, Birmingham and Liverpool have also made progress, although their overall density remains below that of international peers.
The study argues that Britain does not necessarily need to build entirely new transport networks to unlock a substantial number of homes. Densifying areas around stations that already exist could deliver nearly 1.3 million additional homes in the urban cores of London and other major cities, making better use of existing infrastructure.
The findings come as the UK government is already attempting to encourage housebuilding around transport hubs. Recent changes to England’s planning framework have promoted development within walking distance of well-connected train, tram and Underground stations, including certain green belt locations subject to requirements for affordable housing, infrastructure and green space.
Centre for Cities, however, says planning reform alone will not be sufficient. It is calling for faster transfer of land around railway stations from Network Rail to elected metro mayors and city regions, allowing local authorities to coordinate housing, transport and regeneration more effectively.
The think tank also recommends greater use of Mayoral Development Corporations to accelerate regeneration around stations and Mayoral Development Orders to reduce delays for developments that comply with established planning rules.
According to the research, increasing housing density around stations could reduce Britain’s housing shortage by roughly 25%. The benefits would extend beyond housing: more homes close to transport could reduce commuting times, expand local labour markets, support struggling high streets and improve economic productivity.
The report also identifies an even larger opportunity outside city centres. If housing density around stations in the outer suburbs of major British cities were brought closer to French and Japanese levels, another 1.1 million homes could potentially be accommodated. This would take the overall station-related density gap to more than two million homes.
The research therefore places transport oriented development at the centre of Britain’s housing challenge, arguing that the country can increase housing supply without relying exclusively on outward urban expansion. The key issue, it says, is making better use of land that already has access to rail and mass-transit networks.
Centre for Cities policy and research director Anthony Breach said building more homes around existing stations is among the most effective ways to strengthen city economies, but warned that planning delays, fragmented land ownership and bureaucracy could prevent the government from achieving its ambitions.
The findings are particularly significant for Britain’s property market because they suggest that station led urban development could become a major source of future residential supply, while simultaneously increasing demand for well connected urban neighbourhoods. If implemented at scale, the approach could reshape development patterns across London, Manchester, Birmingham, Glasgow, Liverpool, Leeds and other major cities.

A sustained recovery in the US housing market will depend heavily on mortgage rates easing, according to a survey of real estate agents who say high borrowing costs are discouraging both buyers and sellers.

The Real REMAX Group’s Agent Optimism Index, which measures agents’ 12-month outlook on a scale of 0 to 100, fell to 45.8 in September from 54.3 in August. The decline reflects growing concern that mortgage rates will remain too high to bring more buyers into the market. In the firm’s monthly survey, conducted from October 1 to 9 and released on October 30, 65% of 177 agents said 30-year mortgage rates would need to fall below 6% to meaningfully stimulate buyer demand. More than one-third, or 37%, said rates would need to drop below 5.5%.

High rates are already affecting housing activity. Two-thirds of respondents said buyers were pausing or delaying their home searches. Sellers are also holding back: 39% of agents reported that prospective sellers had postponed plans to list their homes.
Some sellers are responding to the slowdown by becoming more flexible on price and terms. Thirty-five per cent of agents said they had seen sellers reduce asking prices, while 34% reported sellers offering concessions to attract buyers.

The outlook for prices is also weakening. If mortgage rates remain around 7% next year, nearly 60% of survey respondents expect home prices to fall. About 33% anticipate a decline of more than 5%.
“Higher mortgage rates are putting renewed pressure on an already challenging housing market,” Real REMAX Group Chairman and CEO Tamir Poleg said in a statement accompanying the survey. Poleg said buyers had gained more negotiating power, but affordability remained a major barrier, prompting many to delay their searches. He added that a lasting recovery in housing activity would depend substantially on meaningful mortgage rate relief.

The survey’s findings echo Goldman Sachs’ outlook for the US housing market in 2027. The firm’s economists expect existing-home sales and new-home construction to decline. They forecast 3.9 million existing-home sales next year, alongside a modest 0.8% rise in home prices.

Goldman Sachs economists Ronnie Walker and David Mericle said that many homeowners who refinanced at low rates in 2020 and 2021 now face a significant financial cost if they move while current mortgage rates remain high.