A recent report from the Resolution Foundation has shown that half of UK millennials will be renting long into their 40s; and according to The Financial Times, the average price of a property bought by a first-time buyer in London has risen by more than 50% over the past five years, while the average first-time buyer’s household income has increased by only 35% over the same period.
With traditional housing no longer appearing to meet the needs of younger generations, it might be time to consider other options. With that, we’ve put together five alternative types of housing that could help address the housing crisis.
Championed by Patrik Schumacher who worked on the London Aquatics Centre built for the Olympics, in his recent briefing paper, hotel room-sized studio flats are the next generation living space for young people. When built in central locations in busy cities, ‘Pocket Homes’ which are half the required minimum 38sqm in size could see busy young professionals on the housing ladder for around 60% of their take home pay, rather than the average 80% currently spent on housing in large cities.
As basic as it sounds, ‘Naked Homes’ are built with only the minimum interiors; buyers are then left to add the finishing touches, kitting them out with bathrooms, kitchens and in some cases, partition walls. This means that the homes can be purchased at lower than usual prices.
According to developer U&I, homeowners only need as little as 205sqft in space to build their homes. Such compact living flats are aimed at helping those on normal incomes afford to live in the centre of major cities without the current strain on their pay cheques associated with traditional sized dwellings.
£1 houses made the headlines in 2013 when Stoke City Council announced it would sell houses for £1 with the aim of regenerating entire streets throughout the city that had been left abandoned and derelict. The only caveat being buyers have to have a certain income and commit to staying.
Upward building has been the go to idea for addressing the housing crisis. Skyscrapers like we’ve never seen before could be the solution to the housing crisis along with extensions on top of existing homes.
Are there any other weird and unusual types of housing we’ve missed? Tweet us at @RMGLTD with your suggestions.
View the original Telegraph article here https://goo.gl/nwGNQH