A recent NHF report called Home Truths, found that in the East Midlands in 2011/12, there was a 50% shortfall in the number of new homes required – leaving thousands of householders on the housing waiting list.
The report also forecasts a 67% rise in private rental prices over the next decade, following a 16% increase in social housing waiting lists over the last 10 years.
Derwent Living chief executive Peter McCormack said: “The housing shortage on both a local and national level is increasing every year. Over 116,000 households are on the waiting list in the East Midlands and homelessness has risen by 25% in the last two years.
“Those who cannot afford to buy because of high deposits and property prices are finding the cost of renting privately is also becoming increasingly more expensive. People often find themselves priced out of both, meaning that turning to affordable housing is their only option.
“Developing more affordable homes is difficult as the amount of government funding available to housing providers has been reduced significantly. Derwent Living has been able to continue to develop new homes because profit from commercial ventures has been re-invested in our development programme, creating 650 new homes over three years.
“The government and local politicians need to work with providers in our industry before the situation worsens.”
More information about the Home Truths report is available at www.housing.org/eastmidlands