London
London is in the midst of a housing crisis, where housing is undersupplied, overly expensive and often of inadequate quality. The city’s population of nearly 9 million in 2019, is expected to grow to over 11 million by 2050. Whilst this generates a growing demand for housing, net additional dwellings decreased by 20% in 2018. House prices have now risen to an average of £470,000, and buyers are faced with an average house price to earnings ratio of 13:1. This situation has resulted from, and helped sustain, a flourishing real estate industry. However, faced with political and economic turbulence around Brexit, a devalued sterling over the last three years and growing pressure on development costs around land and viability, London’s housing market is facing a new set of challenges, many of which are evident in narratives around how to fund residential real estate development.
London researchers
Callum Ward, Claire Colomb, Dan Durrant, Danielle Sanderson, Iqbal Hamiduddin, Jessica Ferm, Mike Raco (project lead), Nicola Livingstone and Sonia Freire Trigo
