Increasing new houses will not solve the ongoing housing crisis. The situation is so dire that there are more homeless people in London than anywhere else in the UK.
According to recent reports, London needs to build 100,000 homes annually to avoid a housing crisis. However, data from the government shows that 41,718 houses have been completed so far.
According to research, the market is unlikely to meet London’s target of 52,000 new houses in its new London Plan. The report also highlights that increasing social housing stock is key to meeting the housing needs of low and middle-income Londoners. Long-term forecasts for 2021 – 2025 show that private developers are now focusing on the higher income bands only available to high earners.
A government in London has reported a rise in homelessness due to the high cost of living. A lack of affordable housing can be an issue at points, which is addressed with quick solutions like offsite construction and prefabricated units. Standardised factory processes usually lead to sustainable outcomes, as they are better for the environment and can significantly reduce manufacturing time. For example, social landlords could move tenants off their waiting list faster.
Yorkshire Hire Centre specialises in the offsite construction of high-quality offices & studios for affordable housing, build-to-rent and storage facilities. Demand for building solutions continues to grow as we produce more of the kind of modular buildings cities around the world are prioritising to help solve their housing problems. The Savills report was created in a joint effort between the London Housing Directors Group and G15, two UK based organizations that specialize in real estate.