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01/02/2014

Borough housing pipeline can’t cope with population increase

Nearly eight out of 10 London boroughs do not have enough homes in their development pipeline to meet projected growth in households in the next decade, according to research by property consultant CBRE.

London boroughs have 300,000 homes in the pipeline but a total of 52,000 new homes will be needed each year to meet the expected demand from a 14 per cent rise in the capital’s population. This is 10,000 homes a year higher than the figure set out in the London mayor’s draft housing strategy.
Only seven of the capital’s 33 local authorities have enough homes in the pipeline to meet the population growth, with outer boroughs particularly badly placed.
A total of 14 inner London boroughs are accounting for 56 per cent of all new residential starts with more than 1,800 sold last year to buyers from Hong Kong and Singapore.
The London boroughs of Enfield, Redbridge, Kingston and Merton have the biggest predicted shortfalls in housing, according to the research.

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