Research by Catalyst analysing half a million households renting in the private sector demonstrates the depth of the housing affordability crisis in London and the South East and suggests potential solutions.
Our research – Mending the Ladder: Responding to the affordability crisis in London and the South East – shows that is becoming increasingly difficult to sustainably afford a market rent or save for home ownership. It also clearly demonstrates that that people living in the private rented sector and aiming for home ownership have their own specific housing needs which currently are not being met by the market.
Catalyst’s response has been to propose new housing products that form part of a ladder of housing solutions. Proposals include shared living, sub-market rented housing to allow people to save a deposit and income-based rents.
Launching the research, Tom Titherington, Executive Director of Property & Growth, said: “Our purpose is to provide housing solutions and opportunities for those who cannot afford a home without our help.
Our core business remains delivering affordable housing to support those in housing need. However, as this research demonstrates, there is a growing demographic of people whose needs are not being met. This is why we have created and will be delivering new housing products that form part of a ladder of housing solutions.”
The research allows us to show the results by household, property and tenure in all 25 local authority areas analysed.