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London

120 residential towers under construction in London

Providing homes for 120,000 people over the next 5 years


​There are 120 towers under construction or with planning permission in London providing homes for 120,000 people – the equivalent in population of a city the size of Exeter or Cambridge say JLL in latest residential research.


A new interactive map released by JLL reveals there are currently 44 high rise schemes of 20+ storeys under construction across the Capital equating to 16,826 homes. There are a further 76 tower schemes with planning consent equating to 31,369 homes. Based on the average London household size the pipeline will create homes for a population of circa 120,000.


In total there are 44,551 homes currently being built in the Capital across 456 schemes. However, the construction pipeline will not equate to an annual delivery figure as more than a third of the homes currently under construction in Greater London are in 20-storey+ towers, which typically take two to three years to build.
Tower Hamlets has the highest number of towers in the pipeline with 21 schemes equating to 10,727 units, followed by Lambeth with 14 towers and Southwark with 12.


This research, utilising data from Molior, highlights the importance of high rise towers to London’s residential supply pipeline over the next five years and underpins how the Capital’s skyline is changing.
London has 210 existing 20-storey+ residential towers, 80% of which were built during a post-war high rise tower building boom in the 1960s and 1970s. 


Nick Whitten, Associate Director in the Residential Research team at JLL comments: “London’s population grew by 1.1 million over the past 10 years and is forecast to grow by another 1 million over the next decade. Due to the restrictions of the Green Belt on building outwards, upwards is the only realistic option to accommodate the rapidly growing population. Households in inner London are also on average smaller while people in the Capital are typically having children later in life, all of which contributes towards a trend for higher density housing. High rise living in London is going to become increasingly the norm.”

NR7587 120 residential towers under construction in London.PNG
Looking at the wider issue of the supply conundrum currently facing London, Adam Challis – Head of Residential Research at JLL adds: “The requirement for higher rates of new home supply continues to remain high on the agenda, never more so in the run up to the general election as we enter a period of cross-party resolve to tackle the growing housing crisis. An extra 250,000 homes are needed each year to meet England’s requirement and this pipeline goes a long way in alleviating some of the pressure currently facing London’s housing shortfall.”

http://residential.jll.co.uk/new-residential-thinking-home.aspx
Access the interactive map here