Finance & Mortgage

Changes in Temp Housing and Mega Basements for the Affluent in London

The most expensive borough in the United Kingdom, the royal borough of Kensington and Chelsea have drawn plans to put residents on temporary housing to reside outside of London. According to a report from theguardian.com, the move was to shield these vulnerable residents from the high prices of property in the affluent borough.

The borough's authority would be spending about £10 million to purchase properties outside of London for those who have become homeless. At the current market rate, the average home in the borough costs around £1.4 million.  The total plan is to purchase about 39 homes along the M25 corridor for temporary accommodations for people with special needs and requirements.

This policy has been severely criticized especially by housing activists. According to these cause oriented groups, the temporary accommodations would only worsen their case as they become isolated from community support.

In response, Council Leader Nick Paget-Brown said, "In an ideal world, we would like to buy properties in Kensington and Chelsea, but the numbers simply don't stack up. We could only buy a handful of homes here. By looking further afield, we can purchase significantly more, making a huge difference to those on our waiting list."

On another note, the affluent of London are being limited as to the extensions that can be built underground. In a report from the dailymail.co.uk, the Westminster Council has introduced new restrictions on the construction of extensions underground. Many affluent residents have been able to expand their space by creating megabasements that can accommodate private gyms, swimming pools and even private theaters.

With the new rules, basement extensions would be limited to a single storey, unless exceptional circumstances are presented. According to Westminster Council Deputy Leader Robert Davis, "Our residents have been facing an underground epidemic on their quiet residential streets, and I want to help stop the horror stories of people living next to mega-basement constructions."


Join the Discussion
Real Time Analytics