Towers could meet London's housing target for next two years
The number of residential towers in London either in construction or in the planning system could meet Mayor Boris Johnson’s housing target for the next two years
According to new analysis by CBRE, more than 13,600 homes are being built in the capital, with a further 70,000 units now in the planning pipeline.
Recent research carried out for New London Architecture found that 236 tall buildings were proposed across the London - a state of affairs which is the subject of the AJ/Observers’ ongoing Skyline campaign.
Yet in the past decade just 10,000 new homes were provided by high-rise schemes.
The surge in towers has been put down to increasing land values in the capital forcing developers to use land more efficiently.
The report also found that tower developments were happening in clusters – in areas such as Canary Wharf, the Southbank, and Croydon. This clustering, says the CBRE, has been largely driven by the London Plan and planning policy and has been heavily influenced by local values – with locations closer to the river more attractive to developers.
Jennet Siebrits, head of residential research at CBRE, said: ‘As London’s skyline continues to grow, we have seen an array of towers being submitted for planning, under construction and now completed right across the capital. Despite the higher build costs associated with developing high-rise, developers have recognised the increased premium that these developments can expect to enjoy, making them increasingly viable.’
Stuart Robinson, chairman of planning at CBRE, added: ‘In London we have a tradition of setting broad guidelines for the clustering of tall buildings, so that they do not harm important views. This requires a high standard of design, so that London’s skyline is enhanced.
‘This approach will come under increased pressure in the future, as we will increasingly need to create higher density in our city in order to meet London’s housing need.’