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News Release


Autumn Statement

Head of Residential in JLL's Leeds office comments on the Chancellor's affordable new homes announcement

Leeds, 25 November 2015 - Charles Calvert, head of Residential in JLL's Leeds office comments on the Chancellor’s announcement that 400,000 new affordable homes will be delivered by the end of the decade.

Charles Calvert says: "Affordability remains the most pressing challenge for many purchasers especially the younger generation. Almost half of all 25-34 year olds now privately rent in England, representing a doubling of the number of households in the private rented sector over the last decade.  JLL residential forecasts suggest that this number is set to rise further in the medium-term predicting 4.5% growth in 2016.

"The political support for more affordable homes is welcome with today's statement offering more hope for would-be young homebuyers and will help increase housing supply, boost first time buyer demand and is likely to lift broader market sentiment and activity too.  

"We are living in one of the most supportive policy environments to boost housing supply in a generation however the requirement to support the private rented sector will continue to grow. As has been the case for a decade or more, we are still not building enough homes."