The housing crisis that London faces is well documented, and the pandemic has further highlighted the extent of the challenges that the city faces to deliver more homes. The Mayor’s target of delivering 66,000 new homes each year is not only ambitious but critical and the quantum and diversity of homes built is absolutely vital to securing and retaining the talent the capital needs to thrive. 

There is no silver bullet to resolving the crisis and the industry and government must come together to take advantage of the opportunities available to address the issue. Local authorities working with the private sector through formalised partnerships, estate regeneration projects and private investment into affordable housing are just some of the pathways to delivery. 

Additionally, BusinessLDN has worked with our members to help to illustrate how new and emerging housing models such as the Build to Rent sector can provide not only the numbers of homes that are needed but also the diversity to allow Londoners to flex their housing options in accordance with their living requirements. These new high-quality, professionally managed homes built exclusively for the rental market, are for the many, not just the few, providing an affordable option available for anyone looking for a long term and secure home. 

The Build-to-Rent sector still remains a largely misunderstood part of the housing industry with the view that it is a luxury product only accessible to a privileged few. However, our report clearly demonstrates that this is not the case. The sector is able to meet the needs of Londoners at whatever stage in life they are at from singles and sharers to couples and families.

Build-to-Rent developments are not just a quick fix – they are a viable long-term solution for many, and the sector has an important role to play in helping to alleviate London’s housing crisis.

Stephanie Pollitt, Programme Director for Housing, BusinessLDN