Housing shortages and high rents.

house building essex colchester

Zac Goldsmith the Conservative London mayoral candidate has reportedly said London needs to see housebuilding at a level  last seen in the 1930s,  he claims that the current housing shortage is a “social crisis.” He has vowed to double house-building in the capital, pledging to ensure homes are built at a rate of 50,000 a year by 2020.

He reportedly said: “We know this is the number one concern for Londoners and we know it is the number one concern for businesses.

“We know the only solution is to massively ramp up the number of homes we are building to help close the gap between what we need and what we are currently building and that means around 50,000 homes a year, it means going back to the 1930s levels of housebuilding which will require monumental effort but we also know that is possible.

“We have vast amounts of publically owned land brownfield land which is not being used which could be used and we need to unlock that land,  both through transport extensions but also by prizing it away from public bodies that has to be the absolute emphasis.

The Labour candidate Sadiq Khan has reportedly pledged to build  a minimum of 80,000 new homes a year.

At the same time as London experiences a shortage of housing the Green Party leader, Natalie Bennett is demanding greater protection for people living in private rented accommodation,  that would include the creation of a Living Rent Commission by the government. Housing shortages and high rents go hand in hand, both these issues need to be addressed simaltaneously by the Government and the London Mayor.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Finance

Your First-Time Buyer Mortgage Journey

Introduction Buying your first home is one of the biggest financial decisions you’ll ever make, and the mortgage process can feel like a maze of unfamiliar terms, forms and waiting. The good news is that mortgages for first-time buyers follow broadly the same path, and once you understand the stages involved, the process becomes far…
Read More
Breaking News

London property values set to fall

The latest market analysis from House Buyer Bureau has found that London is now the only region of Britain where house prices continue to trend downwards, with the average home in the capital forecast to lose almost another £5,000 in value before the end of the year should current market conditions persist. House Buyer Bureau…
Read More
Breaking News

London property values set to fall

The latest market analysis from House Buyer Bureau has found that London is now the only region of Britain where house prices continue to trend downwards, with the average home in the capital forecast to lose almost another £5,000 in value before the end of the year should current market conditions persist. House Buyer Bureau analysed…
Read More
Breaking News

Second-steppers turn to higher LTV mortgages as deposits fall

Barclays mortgage data shows the average value of home movers’ (non-first-time buyers) deposits fell -24.8 per cent year-on-year However, the average purchase price for home movers increased 1.0 per cent year-on-year in June, as borrowers make use of higher loan-to-value mortgage products to climb the ladder 34 per cent of prospective second-steppers say they feel…
Read More
Breaking News

Breaking Property News 23/7/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Guide to AI in Commercial Real Estate: Executive Summary by Ascendix AI in commercial real estate – a beginners manual Wes Snow, co-founder & CEO of Ascendix Technologies, ”Approximately 75% of US real estate companies have already started using AI in their operations in…
Read More
Estate Agent Talk

Conservatories fall out of fashion

Conservatories fall out of fashion as fewer than one in 10 homes boast the former must-have feature   The latest market analysis from eXp UK has revealed that conservatories appear to have fallen out of favour with England’s homeowners, with fewer than one in 10 properties currently listed for sale offering the once-popular home improvement.…
Read More