More social housing needed
More social housing is required, despite the drop in house prices, latest findings have indicated.
The National Housing Federation has said that it is "absolutely vital that we build as many affordable homes as we possibly can".
Joe Dumont, spokesperson for the federation claimed that although house prices have fallen, they rose so high in the first place that property is still out of reach for many.
It is thought that with so many people being able to afford property in London, many are looking to rent flats in London or rent houses in London instead.
Research from the National Housing and Planning Advice Unit (NHPAU) revealed that even if house prices fell by five per cent by the end of the year, people would still not be able to afford property.
The NHPAU has said that the main problem is down to the under supply of properties and is calling on the government to build more homes.
However, this news comes after two major home builders, Redrow and Bovis, announced that they are cutting their workforce by 40 per cent in light of the crisis.
Published 10th July, 2008
© 2008 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Streatham town centre to be improved by BID?
Major improvements could be made to Streatham town centre thanks to a new business partnership.
Read Article ... Published on 25th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
Barking Splash Park opens this weekend
Barking Splash Park will be free to use this weekend (May 25th-27th) to mark its opening.
Read Article ... Published on 24th May, 2012
Southwark estates to get cheaper energy bills
Residents in Southwark can look forward to cheaper energy bills thanks to the creation of a new underground green network.
Read Article ... Published on 23rd May, 2012
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
More social housing is required, despite the drop in house prices, latest findings have indicated.