The London Economic

Mayor Sets Out to Boost Confidence in London’s Post-Referendum Housing Industry

By Bea Patel, TLE Property Editor and Director of Shop for an Agent

The 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 EU referendum result.

Sadiq Khan was elected to deliver a step change number of homes built in London – including genuinely affordable housing. Under the previous Mayor, it’s reported only 13 per cent of homes approved were affordable.

With concern that last week’s referendum result may bring uncertainty to the housing industry, Deputy Mayor for Housing James Murray has today (29 June 2016) spelled out some immediate steps the Mayor is taking to maintain confidence and boost supply.

Speaking at the London Assembly Planning Committee today, James 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.
  • 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.
  • Accelerating new planning rules to support new ‘build-to-rent’ developments, and to give developers clarity and certainty on affordable housing requirements, while also calling for greater planning autonomy for London.

James Murray, Deputy Mayor for Housing, 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.”

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