Regional Sales Director, Gary Patrick, joins the Estates Gazette’s Residential Summit to share Barratt London’s insight into the challenge of the UK’s housing shortage
The Estates Gazette’s annual residential summit yesterday challenged speakers and panellists from the public and private sector to tackle the issue of providing housing in the UK.
Gary Patrick was invited to join the afternoon panel session asking ‘what is the residential sector worth?’ The session was chaired by Samantha McClary, Deputy Editor of Estates Gazette and Gary was joined by Ed Crockett of Aberdeen Asset Management PLC and Stuart Corbyn of Get Living London on the panel.
Gary commented: “As of July 2013, planning permission exists for 210,000 new homes in London. However only half of these sites are owned by private developers. Furthermore 70% of London businesses say lack of affordable housing is one of the most important business constraints."
"Building new homes is crucial to not only addressing the chronic housing shortage in the Capital, but also a vital element of renewing London’s infrastructure and achieving economic growth. We are seeing recovery in the market but to ensure the industry builds more homes, a long term sustainable recovery plan is vital.”