With the average house price in London reaching a record high more people are looking at ways to create affordable housing. The Homes for Londoners Community Housing Hub has been set up to offer support to those people looking to overcome the issue by building their own homes. It is hoped that this support will lead more people to invest in creating genuinely affordable properties that are designed to their exact needs.
The Mayor of London has shown his support for the project with plans to offer £250,000 of funding. This can be used to help push the project forward, ensuring the hub can offer the advice people need to unlock land and address the technical requirements of building a home.
Community led projects have the potential to help deliver the affordable housing that people need. The Mayor of London has already shown he supports them by offering £500,000 to help Naked House deliver 22 homes on three sites in Enfield. These will be partially finished properties, allowing buyers to make their own choices on interior layout, fixtures, and decor. The end result is investment properties in Enfield that are initially available at a hugely discounted price.
The Londoners Community Housing Hub will help to strengthen capacity by making it possible for more people to pursue the opportunity of building their own affordable home. This would have a positive impact on the market and London in general.
One of the biggest issues with the current market conditions is that developers are rushing to build homes to meet the huge demand in areas. Unfortunately in a number of cases this can lead to the creation of properties that don’t effectively satisfy the needs of buyers and renters. For example some areas are seeing the creation of more flats when it is family homes that are in most desperate need.
With the additional support from the Hub more Londoners will be able to build their own homes, ensuring the houses are fit for their needs. This is much better for the inhabitants and the market too.
At Finefair we understand the value that the right investment properties can offer. We have helped countless investors find the right houses for them and gone on to manage them in a myriad of ways. Giving more people the support they need to pursue their own building projects is fantastic news.
If they need help with investment properties Enfield based clients, or those based elsewhere in the city and targeting the area, can call on us.