The Northern Irish capital has seen its population increase by 20.9% from 2011 and 2016, with 58,617 more people moving to Belfast.
Belfast is by far the worst UK city for new housing when comparing population growth to new developments.
The Northern Irish capital has seen its population increase by 20.9% from 2011 and 2016, with 58,617 more people living in Belfast.
However over that time just 2,585 new homes have been built – meaning 22.7 more residents have come to the city for every new home.
The analysis comes from Minerva Lending, which offers listed bonds.
Ross Andrews, director of Minerva Lending, said: “One in 200 people in England is reportedly already homeless. That is already a national emergency that will only be exacerbated if the government does not deliver a housing strategy that works soon.
“With the Budget just two weeks away, the Chancellor should consider extreme measures to boost building before the housing crisis we all recognise spirals further out of control.”
Another area where population growth has dwarfed housebuilding is Manchester, which has built one home for every eight additional residents.
The city has seen 228,762 more people arrive than leave between 2011 and 2016 to increase its population by 9%.
However just 27,730 new homes have been built in that time.
London has seen a population increase of 7.5% with 613,951 more people, while in that time there's been124,020 housing developments.
That means for every property built from 2011 to 2016 five more people have come to the capital.