More, faster
However, by making best use of the catalysts we have identified and building for a wider range of tenures, we can accelerate these numbers. We estimate that there is capacity to build another 24,000 new homes in these 21 locations within the next five years and a further 34,000 new homes after that. This brings the total additional capacity to 58,000 over the next 10 years – the equivalent of just under 6,000 extra homes a year.
However, reaching these numbers depends on strong political leadership, a more creative approach to existing assets, particularly public and under-used employment land and ultimately funding for new infrastructure. Big ticket items such as Crossrail 2 and the Bakerloo extension are essential to encourage more development in more peripheral areas. While at a more local level, roads, bridges and improvement to the public realm could be necessary to make sites work.