New figures released by the Mayor of London, Sadiq Khan, reveal that London needs to build 66,000 new homes every year to meet its growing need.
The revised housing targets will comprise part of the ambitious targets set out in the Mayor’s draft London Plan, due to be published on Friday December 1.
The Mayor of London has called for ‘profound action’ from the government to resolve the housing crisis in London. Among his suggestions was that funding for affordable housing in London should increase to £2.7bn a year, five times current levels.
Other suggested actions included the devolution of new powers to London. These powers would include control over public land, allowing councils to borrow to invest in homes and a massive increase in government funding for homebuilding and infrastructure.
The briefing note outlines the new housing targets for each of the London Boroughs. It shows that overall target for 66,000 new homes a year is not distributed equally around all 33 London boroughs. In fact, the he increase is more heavily focussed on outer London boroughs where the previous London Plan did not maximise the opportunity for development.
Download the briefing note for more information.