one million more homes will be needed in the south of England in the next 10 years, according to a report this week.
Cambridge Econometrics, which provides long-term economic and regional forecasts, predicted that London will be short of 300,000 homes by 2010 unless the government can drastically increase the supply of new housing.
If current building levels remain as they are, the additional 860,000 people expected to need homes in London by the end of this decade could face a severe housing shortage, the report says.
The news puts deputy prime minister John Prescott's plans to build 200,000 homes in London and the South-east into stark relief.
Cambridge Econometrics' report also predicted that the South-east's housing market will soon be in for a short-term decline in prices, after which high demand will push house prices up once again.
Source
Housing Today
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