There is an estimated 3.91 million shortfall in homes in England according to a new report by the National Housing Federation and homeless charity Crisis.
Across England 340,000 new homes need to be built per year until 2031 to meet future demand, significantly higher than the government’s 250,000 target significantly higher than current levels. Figures from the NHBC indicate that just over 160,000 new homes were registered in 2017.
The report indicates that two-fifths, 145,000, new homes per year must be affordable, double current estimates of need. At present just a quarter of the total build are affordable homes.
Affordability is a key feature of the new London Housing Strategy officially published in May. £4.82bn has been pledged across the capital to support 116,000 new home starts over the next five years, 35% of all new home starts.