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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.
"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.
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.
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."
Director - Residential
Head of UK Regional Marketing & Communications
+44 (0)161 828 6407