Mayor looks to boost confidence in London’s post-referendum housing industry

Ryan Fowler

June 30, 2016

sadiq khan

Mayor of London, Sadiq Khan, has set out his commitment to strengthening confidence in the capital’s housing industry in the aftermath of last week’s European Union referendum result.

Khan was elected in May having promised to deliver a step change in the number of homes built in London – including genuinely affordable housing.

Affordable housing delivery in London came to a near-standstill under previous Mayor Boris Johnson and last year just 13% of homes approved were affordable.

City house price inflation slows

With concern that last week’s referendum result may bring uncertainty to the housing industry, deputy mayor for housing James Murray has spelled out some immediate steps the mayor is taking to maintain confidence and boost supply.

Speaking at the London Assembly Planning Committee Murray said that City Hall is meeting major developers and the G15 – the organisation that represents London’s 15 largest housing associations – in City Hall next week to offer the Mayor’s support to them in continuing to bring forward new developments across the capital.

It is also calling for London to receive a substantial affordable housing settlement to underpin the delivery of new housing, and allowing London to retain a full suite of property taxes.

And it will be accelerating new planning rules to support new ‘build-to-rent’ developments and to give developers clarity and certainty on affordable housing requirements, whilst also calling for greater planning autonomy for London.

Murray said: “Last week’s European Union referendum result was not the outcome we wanted, but the fallout underscores how vital it is we do everything possible to stimulate and support the housing industry.

“There is no doubt that the vote has already caused uncertainty that will make it harder to fix the housing crisis, but our message to developers, housing associations and local authorities is that we will do all we can to give you the support and certainty you need to get through these difficult times.”