The housing shortage in England and Wales will be at least another 5 years

England and Wales are facing the threat of a serious shortage of housing over the next four years. The main problem is the lack of readily available land for development.

Local authorities in the UK Policy framework the National Planning System of housing to identify the needs of the district in residential real estate should annually update their data on needs in residential property and real opportunities.

The published report of the consulting company Turley , which reflects the need for new housing 318 of the municipal districts of England and Wales, excluding London. According to the report, England and Wales in the run up to 2018 will require at least 1197000 new homes. And the number allocated to the land will allow to build only 939000 housing units. As a result, the deficit could be around 258000 houses.

According to the report, at least 211 districts in England and Wales will experience an extreme shortage of residential properties in the nearest five-year term. The deficit in the South-West of England will be 18636 homes in the South-East – 34502, in the South – 23106, middle East, 56250, in the West – 27027, North-West – 45340, in the North-East of England – 13437 in Wales – 11765.

The shortage of affordable housing is a serious obstacle to economic recovery in the country and improve living standards. Especially critical is the situation in young families who need to have funds for a down payment and steady income to mortgage the Commission approved a statement on the allocation of mortgage credit.

Market research is a good opportunity for local authorities to raise the issue of the allocation of new land for construction. But, according to the researchers from the consulting firm Turley, as a rule, the situation is not much will change for the better, and the figures reflect the shortage in various regions of England is likely to remain the same. There is a high probability that the situation with the deficit may be worse than forecast as the pace of delivery of new housing, which are reflected in the plans has not been met and the overall level of rate of residential construction, as a rule, even lower than planned.

® Alice Morgan 10.06.2014 g.

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