Mayor says construction costs threaten London home-building

Mayor of London Sadiq Khan has warned that the soaring cost of construction materials is slowing house-building progress in the capital. Government data shows prices for materials, including steel, timber, and concrete, shot up 23% last year. Mayor Khan said one development in south east London has experienced costs rising 45% based on tender returns. He wants the Government to issue more grant funding for affordable housing as London councils and housing associations face added pressures. 

City AM (28/01/2022)