How can the new mayor tackle the housing crisis?
The London housing crisis has dominated the 2016 Mayoral election, marking a shift in sentiment since the last election in 2012. Now London has decided on its new mayor and the electoral politics are over, we look at some radical solutions to secure London's social and economic future.
- London’s new mayor could deliver thousands of additional affordable homes by allowing developer contributions to be spent in less expensive boroughs;
- The selective release of just 1% of London’s green belt from the 10 London boroughs with the most green belt and the best transport links could deliver 17,000 homes;
Average London house prices are forecast to rise by a further 21% to £572,000 by 2020 if the next mayor fails to tackle affordability, whilst wages are projected to increase by £10,000.
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As always, please do get in touch if you would like to discuss our research or any of the issues we have touched on.