Only seven London boroughs have housing stock to satisfy future demand, research shows

Out-Law News | 07 Jan 2014 | 2:33 pm |

Less than a quarter of the 33 local authorities in the capital have sufficient housing stock in their development pipeline to satisfy the projected demand over the next ten years, new research has found. 

According to Planning Magazine, a new report on the housing supply in London to be published by property consultant CBRE has shown that 52,000 homes will need to be constructed yearly to meet the housing demand from a projected 14% rise in the capital’s population over the next decade.

However, there are only a total of 300,000 homes in the pipeline for all London boroughs and recent annual construction levels in the capital have been at around 20,000.

The report found that construction activity is focused around inner London, with 56% of new housing construction starts currently being accounted for by 14 inner London boroughs.

The biggest housing shortfalls were predicted in Enfield, Kingston, Merton and Redbridge, with the biggest predicted housing surpluses found in Greenwich, Hammersmith and Fulham, Kensington and Chelsea, Newham and Wandsworth.