Shortfall of 1.1m homes predicted
SAVILLS predicts that there will be a shortfall of 1.1 million properties in England by 2016 and 1.7m by 2029.
In Yorkshire, 13,000 homes are forecast to be built between 2011 and 2029, leaving a shortfall of 10,500 each year and a total shortage of 259,000 by 2029.
Savills’ research team looked at past housing delivery since 1990 and projected future housing completion numbers on the basis of past practice. They have set these against projections of household growth.
Savills’ Yolnda Barnes says: “An additional 75,000 homes a year will need to be built, on top of the 140,000 per annum that Savills think likely if current industry, funding and planning practices prevail.”