Prefabs to sprout?
Hopefully not, according to Simon Jenkins, in an entertaining piece for the Evening Standard. After misleadingly comparing the modern prefab with the, literally, Jerry-built bungalows of old, he goes on, however, to make this valuable point.
There is no evidence to suggest that house prices will fall in response to a few thousand subsidised prefabs. It is like cutting food prices by building a farm. The overwhelming majority — perhaps 90 per cent — of housing transactions in London are of existing property, as people upsize or downsize, immigrate or emigrate. It is on regulating these transactions that Barwell should concentrate his attention.
So what is the answer? Jenkins wants to see higher-density housing, heavy-handed action to discourage foreign buyers and a reduction in the number of foreign students in London.