Read a brief summary of ULI Europe’s webinar on Promoting Housing Affordability, now available on Knowledge Finder, by ULI UK Member, Sorrel Pompert Robertson (Blackstock PR).

In a follow-up to the Urban Land Institute’s paper on “Promoting Housing Affordability” earlier this year, ULI Europe held a webinar to look further into the report’s recommendations and how the COVID-19 crisis will affect the delivery of affordable and intermediate housing.

The event was hosted by Managing Director of Catella Residential Investment Management, Xavier Jongen, and after a brief introduction to the report by Independent Advisor, Margarethe Theseira, panellists discussed the challenges to building intermediate housing and what best practice looks like.

One of the key themes, raised by Dr. Marcus Cieleback, Chief Economist at PATRIZIA AG, is the role that the government will play in the future of housing once the coronavirus crisis is over.

The negative economic impact of lockdown measures means demand for affordable housing is expected to skyrocket post-crisis as incomes take a hit and people are left without jobs. As a result, the state will likely play a bigger role in housing delivery.

However, both Cieleback and Nicolas Bearelle, CEO at Revive, warned too much state intervention in the housing market could discourage private investment. Instead, both argued that we should develop public-private partnerships to deliver housing that meets a range of needs and requirements.

Claire Flurin, R&D + Innovation Director at Keys AM, believes a rethink of space requirements is needed to address affordability. According to Flurin, our existing housing stock is outdated and unsuitable for our more modern needs, with one/two person households growing, more people renting, and working from home becoming more common. It will now be key to provide homes with more flexible space and a focus around community.

Flurin argued that the current crisis will create a greater need for an all-round, high-quality, experience beyond our private space – and that’s where alternative residential options will come in. These types of assets, such as co-living, will provide resilient communities in the case of future pandemics by allowing residents to isolate themselves with groups of people that they trust.

Ultimately, the COVID-19 crisis has highlighted the need for the housing market and its stakeholders to be flexible to change, and that includes affordable or intermediate housing. Public and private bodies need to work together to offer up new solutions and start meeting this demand.

Listen to the webinar in full on Knowledge Finder.