London Mayor getting to grips with Housing Crisis

New London Mayor Sadiq Khan has wasted no time since taking office, he immediately  requested an urgent audit of City Hall’s readiness to tackle the housing crisis, the audit revealed what the London Mayor called the “massive scale” of the challenge ahead.

The previous Mayor Boris Johnson  came in for critiscm from Sadiq Khan for what he said was “letting Londoners down” over affordable homes.

Sadiq Khan reportedly  said: “London gave me the opportunity to go from the council estate where I grew up to being able to buy a family home we could afford. But today, too many Londoners are being priced out of our city.

“One of the first things we did when we got to City Hall was open the books and look at what was already in the pipeline, and it seems the previous mayor has grossly let down Londoners by leaving the cupboard bare when it comes to delivering affordable housing.

“I am determined to fix London’s housing crisis and ensure that all Londoners have the opportunity to rent or buy a decent home at a price they can afford, but the scale of the challenge is now clearer than ever and we’re not going to be able to turn things around overnight.

“We will be outlining our plans in the coming months, but one of the first things we can do is work with Transport for London to fast-track their numerous surplus sites for development that have previously just been sat on.

“There is no doubt we have our work cut out, but I plan to personally get to grips with the mess that has been left behind and will insist on far higher levels of affordable housing in new developments.”

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

Rightmove logo
Breaking News

Highest ever price gap between first-time buyer and second-stepper home

Latest Rightmove data shows that the price gap between a typical first-time buyer home and a second-stepper home is at its highest ever, increasing cost pressures on those looking to trade up: The average asking price for a 3-4 bedroom, typical mid-market second-stepper home is 52% more than a 0-2 bedroom, typical first-time buyer home…
Read More
Estate Agent Talk

Mortgage Rates and Human Behaviour: Why Small Changes Create Big Reactions

By Sarah Thompson, Group Financial Services Director, Mortgage Scout Mortgage rates have returned to the headlines in recent weeks, with some lenders pushing products back above 5%. Renewed market volatility has been driven in part by global uncertainty, including the conflict in the Middle East and its impact on energy markets and investor confidence. Yet…
Read More
Breaking News

Nearly six in ten UK property purchases trigger AML red flags

Nearly six in ten UK property purchases now require further scrutiny under anti-money laundering (AML) rules, according to new data from client due diligence platform Thirdfort. Analysis of more than 415,000 completed Source of Funds (SoF) checks found that 57.7% of transactions contained at least one red flag, with an average of two flags per…
Read More
Breaking News

Vanishing act of sub-4% fixed rate mortgages

A cut to Bank of England Base Rate (BBR) looks increasingly unlikely, with the upheaval in mortgage re-pricing leading to a vanishing act of sub-4% fixed mortgages, according to Moneyfactscompare.co.uk analysis. Mortgage market analysis The pool of lenders offering a sub-4% fixed rate deal has taken a significant blow. All of the biggest banks, namely…
Read More
Estate Agent Talk

Government’s Home Buying and Selling Reform

Will the Government’s Home Buying and Selling Reform Consultation Increase or decrease the speed at which the market moves? Kevin Shaw, National Sales Managing Director, LRG The government’s consultation on Home Buying and Selling Reform is a step in the right direction. It recognises what every estate agent and conveyancer already knows: property sales take…
Read More
Letting Agent Talk

The Draft Leasehold and Commonhold Reform Bill

Content and clarification Comment from the Association of Leasehold Enfranchisement Practitioners (ALEP) By Shabnam Ali-Khan – Partner, Russell-Cooke Following the rushed Royal Assent of the Leasehold and Freehold Reform Act 2024, further controversy has arisen. In the King’s Speech on 17 July, the new Leasehold and Commonhold Reform Bill was announced, but the full details…
Read More