London must double house building rate

London needs to build 100,000 homes a year – double the current number -  if the city hopes to tackle its housing crisis, according to a new report. The authors of the 'Delivering on London's Housing Requirement' report said there is “no end in sight” for the housing shortage at current building rates. The Mayor's London Plan has outlined an annual target of 52,000 new homes, while the most recent government data shows just 41,718 were completed in the capital in 2019/20. However, the report, from the G15 group of the capital's largest housing associations and London Councils, concludes 90,000 to 100,000 new homes are needed. The forecast for the next four years also highlights that private housebuilders are more focused on building flats for higher earners and investors, whereas London's demand for affordable housing is almost eight times greater than the number of homes due to be delivered. 

Evening Standard (17/08/2021)