The current housing crisis is a result of the supply/demand imbalance that has been present in the in the UK housing market since the 1970s. Last year, it was reported that the crisis affects around eight in ten families across the UK. These alarming statistics, combined with the uncertainty posed by Brexit, has led many to question the future of the UK housing market.
While figures show that the home building industry is on track to hit the government’s target of creating 1 million new homes by 2020, it appears that current efforts are falling short in two particular regions of the UK.
In both London and the South East, there has been an annual shortfall of 104,000 homes. As a result, only a fifth of households can afford to buy the average new home in these regions, according to research conducted by Savills.
The South East is the third highest region in terms of population density, with an average of 440 residents per square kilometre. Due to its close proximity to the capital, properties in this region are highly desirable for both businesses and professionals. As a result, house prices in the South East have risen by an average of 8.6 per cent – the national average is 7.1 per cent.
If properties in the South East are to become affordable for households, properties in the region should cost no more than £250,000, the Savills report concluded. The current average is £290,000.
At SJD, we are committed to sourcing and selling sites that will provide everyone with a quality home and lifestyle. To help us achieve this goal, we have appointed Marie Coleman as the Head of the Affordable Housing Division of the company. Formally of Genesis Housing, Marie Coleman has a wealth of experience in this sector and is excited to utilise her specialty knowledge by working to deliver quality housing for all.
“SJD are committed to working with landowners, developers and registered providers to meet the housing demand for new homes in the affordable sector.” – Marie Coleman.
The division will concentrate on ‘off-market’ opportunities and s106 provisions in the South East and the Midlands, and work closely with landowners to deliver suitable sites in order to meet the requirements of the registered providers (housing associations).
Typical sites include:
- Plots close to good infrastructure and facilities.
- Rural locations where prices can be prohibitive for young local people.
- Large sites where the registered provider will build private homes to fund the cost of affordable homes on the site.
If you have a site that may be suitable for an affordable housing project, please contact us today at email@example.com.