Draft Housing Policy for Public Consultation, Partial Review of the Core Strategy - March 2013

Housing Policy Review 2013

35.1 INTRODUCTION

35.1.1 House prices in the Royal Borough are among the highest in the country. Since the adoption of the Core Strategy in December 2010 house prices have continued to rise to an average of over a million pounds (£1,094,203) [1]. This is nearly double the average house price in 2005 and the highest average in England. Affordability is therefore a significant issue, especially with ‘part ownership’ schemes. Demand for all types of housing is insatiable. However many houses are built, we cannot begin to satisfy demand, either for private sale or affordable homes[2]. Our strategic focus is therefore on achieving a diversity of housing in mixed communities, to reduce the potential of further polarisation between, in broad spatial terms, the north and south of the Borough.



[1] Land Registry Housing Price Index, October 2012

[2] Affordable Housing is defined in the Glossary

35.1.2 In terms of the Core Strategy vision, the housing policies will have a positive impact by facilitating both the North Kensington regeneration and reinforcing Kensington and Chelsea’s international and national reputation as an attractive place to live, with prime residential areas. Residents’ quality of life should be improved by increasing the diversity of housing, providing more affordable housing and maintaining the quality of areas which are already sought after residential locations.

 

35.1.3 Diversity of Housing is an integral part of the Core Strategy’s central vision of Building on Success. It is central to stimulating regeneration in North Kensington, and vital to the residential quality of life.