Mayor implements new housing policy
Boris Johnson has announced changes to targets for housebuilding in London.
The mayor opened talks today with individual boroughs over their roles in meeting the target for the creation of 50,000 affordable homes across the city in the next three years.
It marks a change from the policies of predecessor Ken Livingstone, who had imposed a policy from the centre to tell each borough how many homes to build, with Mr Johnson instead seeking to pursue what he sees as a more flexible approach that takes into account what each borough might be able to achieve.
Mr Johnson said: "The current policy of imposing an inflexible London-wide target clearly does not work and in these exceptionally tough times it is imperative that we make the right investments now."
However, even if the policy is successful it will take three years to create the extra homes, meaning many people will find it better to rent now.
Buying even one of the cheapest homes in London requires average earnings of £56,000, the National Housing Federation said today.
Published 23rd October, 2008
© 2008 Estates IT Limited
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Boris Johnson has announced changes to targets for housebuilding in London.