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News - 8 July 2013

Affordable housing crisis

Centrepoint, the youth homelessness charity, has issued a warning that a shortage of affordable housing in England will hit "crisis" point by 2021 unless action is taken with an estimated shortfall of 934,388 properties at sub-market rents that will be needed in England

Centrepoint says the largest shortfall will be in London, with about 186,333 affordable homes needed, followed by the East Midlands with 132,587 and Yorkshire and Humber with 128,478.

The report says more homes should be built in the private and rented sector and better use made of existing stock.

Housing Minister Mark Prisk said: "We are building 170,000 new affordable homes for rent and affordable home ownership by 2015, and are planning to accelerate the building rate from next year."

Lavinia Newman, founder of ABDS comments:
“The report also examined the shortfall in homelessness provision for young people and found that more hostels and other types of "supported accommodation" will be required by 2021 to house young people who become homeless.”

If you need any help and advice for your business on the implications of central and local Government Funding initiatives and the construction industry, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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