Housing Projects Drop in London as they Rise Everywhere Else in the UK
The Housing & Finance Institution has revealed that the amount of housing developments taking place in London has dropped, while the Home Counties and everywhere in England have seen the number of properties starting to be built increase.
Comparing the year to March 2017 and the year before, London has seen a drop to 16,800 from 23,000. The Home Counties have seen an increase to 24,300 from 21,500. The country overall has seen an increase in projects started from 143,000 to 163,000 in March 2017. In order to make sure that London doesn’t get left behind as more houses are created across the country to meet the demand for housing, the Housing & Finance Institute wants to see the capital given special measures in order to prevent it falling further behind the stats of the rest of the country.
The Housing & Finance Institute are also looking additional powers to be awarded to them by the Government in order to support the South East and other regional areas as they work to deliver the homes that are required by the country.
It was reported last year in the London Housing Commission Report by Lord Kerslake that the order for new homes in London may have reached its peak in 2015. It would appear, looking at the figures released by the Institute that this prediction appears to be right.
On the other side of this there is good news, as the Home Counties surge ahead with the number of houses that they are able to deliver. The Home Counties have managed to stay in proportion with the overall national increase, which is a great achievement and will help to provide more houses to meet the demand seen in the area as well as across the UK. This increase in development has allowed the region to overtake the rate of house building in London for the first time in five years.
