{"id":35644,"date":"2017-10-12T14:12:48","date_gmt":"2017-10-12T13:12:48","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=35644"},"modified":"2017-10-12T14:12:48","modified_gmt":"2017-10-12T13:12:48","slug":"london-boroughs-estimated-to-fall-short-of-housing-needs","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-boroughs-estimated-to-fall-short-of-housing-needs\/35644\/","title":{"rendered":"London boroughs estimated to fall short of housing needs"},"content":{"rendered":"

According to a new report, outer London boroughs in transport zones 5 and 6 are expected to build just 17% of the homes required in 2017<\/h2>\n

Figures from advocacy group London First <\/a>also projected that zones 1-4 were also set to fall short, building around 80% of the new homes needed.<\/p>\n

Overall, London is now estimated to complete just 63% of the new homes that the city needs to build this year.<\/p>\n

London First believes that \u2013 according to the government\u2019s new methodology \u2013 zones 1-4 need to build 53,000 homes a year, while 19,000 are required in zones 5 and 6.<\/p>\n

The group suggests that London now requires 72,000 new homes, as opposed to the 49,000 homes a year stated in the current London plan.<\/p>\n

Naomi Smith, executive director of campaigns at London First, said these new figures were deeply worrying.<\/p>\n

\u201cThe housing crisis is getting worse, not better.<\/p>\n

\u201cLondon is falling far short in providing the homes it needs.<\/p>\n

\u201cThe mayor and the government must do more to drive construction in the city, and further devolution of powers to City Hall may be needed to make this happen,\u201d she said.<\/p>\n

Adam Jaffe of Investec Structured Property Finance <\/a>added: \u201cThe increasing shortfall in new homes is concerning, especially in outer London boroughs where land is seemingly in more supply.<\/p>\n

\u201cDevelopers need more favourable conditions to unlock land, whether through planning or debt availability.<\/p>\n

\u201cAt Investec, we see the outer zones (5 and 6) as key areas for funding opportunities and supporting experienced residential developers is imperative to help tackle the housing crisis.\u201d<\/p>\n

Smith added that this wasn\u2019t just a political issue, saying: \u201cThe lack of building in much of zones 5 and 6 is choking London, pushing up prices and squeezing young, productive workers out of the city.<\/p>\n

\u201cThe housing crisis <\/a>is one of the most serious challenges facing business, preventing firms from recruiting the talent they need to grow and succeed.<\/p>\n

\u201cBusiness could provide thousands of additional jobs each year if the cost of housing was more manageable.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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