Mr. David Dalton:

It actually chose the high migration, high obsolescence, low household size. We did that for the very reason that we felt it encompasses a very significant element of the unmet demand that needs to be delivered over the period. If you take any of the constant household size scenarios and you then compare that to the low household size scenarios, that gives you a difference of about 170,000 households. There is an element of unmet demand. Not all of that equates to unmet demand because household size will change as the population ages naturally. An element of that 170,000 is unmet demand, and probably a very significant element of it.

We also have a proxy sense check, which we think is around 110,000 at the lower end. It looks at the level of undersupply we believe has resulted since 2017, plus the number of homeless households, which is currently in and around 8,000 to 9,000, plus those households that are overcrowded and living with others. That gives us around 110,000 at the bottom end. Somewhere between that 110,000 and 170,000 we have a figure for unmet demand, and that is factored into the scenario that the Government has based its housing target profile on for 2025 to 2030.