- Expansion reflects HSPG’s rapid growth with staff numbers doubling in last two years
- Just 4% of the total affordable housing delivered since 1990 has been in the North-East
HSPG, the UK’s leading social impact real estate firm, has opened a new office in Leeds, its third across the country, reflecting the growing demand for Affordable and Social Housing in Yorkshire and the North of England.
This expansion reflects HSPG’s growing influence in the social housing space, with its staff numbers doubling in the past two years. Having successfully opened a Soho London office in April 2021, this latest expansion is set to continue HSPG’s growth in the North at a crucial time.
The average house price in the UK hit a record high this month, reaching almost £277,000. This represents a 79% increase in just over a decade, whilst wages have risen less than half as fast. As a result, the demand for Affordable Housing is growing, especially in the North-East where there is a severe lack of such housing.
The expansion aims to tackle the historic north-south disparity in housing construction and provision over the past three decades. Over the past 30 years, almost 23% of all affordable housing delivered in England has been in the South East, leaving many northern areas to fall behind. As a result, there are over 23,000 people on waiting lists for social housing provided by Leeds City Council.
The Government’s Levelling Up White Paper, published in February this year, defined its promise to a long-term plan of action to ensure the physical infrastructure, including housing, in regions outside London and the South-East are brought up to the standards of the rest of the country. HSPG is working with local authorities to ensure this becomes a reality and the latest move to open a Leeds office, in addition to the existing HQ in Manchester, represents this commitment.
Guy Horne, CEO and Co-Founder at HSPG, commented: “The Leeds office is a very exciting and necessary development in the HSPG journey and reflects our strong growth over the past two years. It’s no coincidence that Leeds has been chosen, the demand for Affordable and Supported Housing in the North-East is huge and the homelessness epidemic is escalating”
Tom Finch, Head of Asset Management at HSPG, commented: “Our new office in Leeds comes at a dynamic time for HSPG as we aim to expand our portfolio of housing in the North. There are over 400 homeless people in Leeds and a further 23,000 waiting for social housing from the Leeds City Council, we are hoping that the opening of this office will allow us to tackle such issues and provide safe and quality housing for vulnerable people in the region”
