How Many Homes, a new research project commissioned by the TCPA, says an average of 312,000 homes a year for five years need to be built to make up a housing "shortfall that has occurred since 2011" and to meet 2012-based household projections published by the Department for Communities and Local Government (DCLG) earlier this year.
This, the report says, is "more than 50 per cent higher than the government’s ‘target’ of a million new homes, which itself is seen by most commentators as unobtainable."
Comparing the 2012-based projections with DCLG’s own housebuilding statistics for the four years between 2011 and 2015, the report says, that "over that period only 54 per cent of the homes identified as required by these projections were built in England as a whole" and 34 per cent in London.
Based on the DCLG projections, the report says, 25 per cent of the new homes England needs between 2011 and 2031 will have to be in London, while 55 per cent will have to be in London and the East and South East regions.
These numbers, the study says, "are extremely unlikely to be achieved – resulting in additional pressures in neighbouring regions and lower actual household formation rates."
TCPA chief executive Kate Henderson said: "The government needs to see this as a wake-up call.
"It has already fallen behind on their targets for house building, and this is now having a devastating effect on young people. More needs to be done to build the necessary number of high quality, affordable homes for people who need them."