Today, London's housing crisis is the result of various factors that arise from London economic development and recent-past housing policies. In the 80’s and 90’s, policies such as Right-to-Buy and the underproduction of new homes has led to an increasingly widening gap between housing demand and supply.
In the past decade, the crisis has also been intensified by the growing population in London, and not least due to the financial crisis of 2008 which has significantly affected the building industry.
With an average house price of 480,000£, it has become increasingly harder for many Londoners under the age of 40 to get on the property ladder. Gentrification, the overinflated houses prices, associated with the lack of work opportunities outside the Capital, force many young people and families to move to the outskirts of London.
The objective of our proposed scheme is to look in depth at incremental and flexible housing solutions with prefabricated modules, which will allow the spreading of costs over time for both the home-owners and the developers. Whilst the developer will provide low-cost and urgently-needed production of new homes in the short term, home-owners will carry out a progressive customization and expansion overtime when their own funds become available. The possibility of shrinking, rearranging & extending the floor plan layout, implies that the investor will have the capacity to take part in fighting the current housing crisis and providing more livable and affordable homes and places for a young generation of London workers.
CREDITS: Andrea Panizzo, Gianluca Stefani, Mihail Dinu, Alex Borrell