Demand for new homes remains high in London

Demand for new homes remains high in London

New targets designed to build new homes in London may not be enough to meet demand, according to property experts.

It is expected 66,000 new homes will be constructed in London per year – up from a previous target of 49,000.

However, Savills believe this target will not be enough, with the target realistically needing to be nearer 90,000 to 100,000 because of housing stock shortages across the capital.

“There continues to be a massive shortfall both in London and its surrounds and it is this misalignment of housing need versus delivery which could ultimately hinder economic growth,” said Emily Williams, Savills residential research analyst.

“But London’s housing need cannot be considered in isolation. There needs to be an enforceable mechanism to ensure that London’s overspill housing need to be accommodated elsewhere,” she added.ADNFCR-1222-ID-801841445-ADNFCR

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