The Future of Urban Housing, Melissa Fernández speaks to Design & Build Review
Melissa Fernández speaks to Design & Build Review Magazine about the London housing crisis and its effects on London’s younger generations. The article goes on to discuss ‘co-living’ which is an alternative method of coping and resisting the exclusionary PRS sector.
Here is an except from the article:
“It is not secret that the London housing market is in crisis. According to a recent report by the London School of Economics and Sutton Trust, while London’s population rose by 12% since 2001, to over 8.6 million, housing increased by just 9%. House prices have increased by 68% in the last ten years, compared with 16% outside London, and around 70% of millennials, also known as Generation Y, now believe that home ownership is not a short or medium-term possibility.
With the average house costing eight time an average person’s income, young Londoners are renting privately, but this is fraught with problems, such as a lack of landlord regulation. This is evidenced by a Citizen’s Advice Bureau report that documents a 75% rise in the number of requests for help from 17-24 year olds since 2007.
“There is a lack of good quality housing that is affordable, especially for younger generations,” says Dr Melissa Fernaández Arrigoitia, co-author of the LSE report an an Associate Professorial Research Fellow at LSE. “Those without family support are at a particular disadvantage in the housing market and private renting offers poor value for many and poor quality, especially for those on average and lower incomes.””