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The first publication was the Chancellor’s Autumn Statement, where three items caught my eye. They were: the expectation that local authorities will use joint ventures to maximise the supply of affordable housing; the commitment to support the regeneration of existing housing estates; and the intention to launch a review of the role local authorities can play in supporting overall housing supply.
The second publication was the Mayor of London’s draft Housing Strategy, which is currently out to consultation. The problem of housing supply across all tenures is of course acute but there is much to welcome in the Strategy, notably the commitment to improve existing housing estates and to support the Private Rented Sector (PRS) sector.
Perhaps less convincing is the emphasis on very large sites such as Barking Reach to deliver outright sale and PRS homes. The fact is that need applies right across London and, quite apart from the risk of saturating demand in some of these very large sites through over-supply, we need to find solutions that provide new homes throughout London.
However, there is a common and very encouraging theme in both publications and that is the importance of local authorities to the ramping up of supply of new homes. We very much welcome this as we believe there is a huge potential across many parts of London and the South East. The three keys to realising this potential are:
Our experience of working in partnership with local authorities and housing associations over the last 3.5 years tells me that, working together, we can make the contribution that both the Chancellor and the Mayor of London want to see.
What do you believe are the prospects for affordable new homes and regeneration?
New Business Director, Countryside Properties’ Regeneration South Division
Here you’ll find property related blog articles from the team at Countryside as well as independent experts. Expect regular tips and advice on topics such as buying a new home, interior and landscape design, setting up home, mortgages and finance, plus articles on architecture, the property market, regeneration and more.