00:001,658 This is the number of homes Medway Council
00:04needs to build each year to reach their 2042 target.
00:08With over 24,000 houses expected to be across the five towns in the next two decades, this
00:14hopes to release the pressure off the growing demand.
00:17In the South East of England, housing prices have increased 1.2% in the last year, but
00:22here in Medway, they've increased 5% But with buildings on the rise, the question
00:26remains why Medway prices have exceeded the rest of the county.
00:30I feel it's because of the shortage of supply that we've got here in Medway and an increased
00:34demand.
00:35The number of people looking for accommodation, living in temporary accommodation is outgrowing
00:41our supply.
00:42This is as a result of us not meeting our housing targets for new builds.
00:47It's also a result of us not having a local plan in place for a number of years.
00:51The council created the Medway Development Company to help deliver residential developments on
00:56land owned by the council, by transforming underused spaces and regenerating land into residential
01:02living areas.
01:03With the data from the housing delivery test showing that the area has not met their required
01:07goals in the last three years, how is the housing shortages and rising expenses impacting
01:12the lives of Medway residents?
01:14It might not affect me so much, but our children, within the next couple of years, might be starting
01:19to look for a home in this area.
01:21So yeah, I don't fancy their chances.
01:23For youngsters nowadays, they just can't afford to get onto the property ladder.
01:28You need a certain amount of deposit.
01:31You've got lots of new houses going up, but none social for people that can afford.
01:40Rent prices are just astronomical.
01:43They're all stretched.
01:44I think everyone would acknowledge that, but I think there does need to be additional support
01:49for people who can't afford to live in their own homes at the moment and for opportunities
01:55to be presented to them, they will have to have additional support.
01:58With the council's regeneration projects occurring across the towns, it hopes to reach their housing
02:04goals and deliver affordable homes to the area.
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