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December 5, 2019

The Free Market Can’t Solve The Housing Crisis. Here’s How 1 Council Is Trying To Fill The Gap

Is affordable housing the new BTR? Learn more from L&G next week at London Residential & Affordable Housing Review

There are actually three things that are certain in life: death, taxes and London not building enough affordable homes to house its growing population.

Year in, year out, the gap between the number of homes London needs and the number built remains pretty static. According to the London Assembly, in 2017/2018 about 66,000 new homes were needed, and just under 32,000 built.

There is a growing feeling that the free market and not-for-profit sector, house builders and housing associations can’t fill the gap on their own, and the public sector will have to do something it hasn’t done at scale for more than 30 years: build houses. The last time London and the UK built enough homes to meet the needs of its population, local authorities were major providers of new housing. To get there again, councils will again need to build.

The Free Market Can’t Solve The Housing Crisis. Here’s How 1 Council Is Trying To Fill The Gap

“I think there is every chance that local authorities can become, again, the natural home of affordable housing,” London Borough of Haringey Assistant Director of Housing Alan Benson told Bisnow ahead of his appearance at the London Residential & Affordable Housing Review. It is one thing saying this, quite another making…

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