A London wide housing target?
19 August 2015, Blog
This week has seen Boris Johnson dip his toe into the muddy water of affordable housing targets.
The London Mayor is considering plans for fixed targets of 25% for affordable homes on “major sites” in the capital. This potential change in policy is reportedly being driven by Deputy Mayor for Planning and Policy, Sir Edward Lister.
If enforced by the GLA, the proposals could have a significant impact on development within London. There would no longer be a need for developers to produce viability reports, as a 25% provision of affordable housing would be compulsory.
The announcement has been met with a considerable amount of scepticism, primarily because of the way in which the GLA’s policy would undercut the targets originally stipulated by individual London boroughs. Indeed, Croydon has recently been applauded for the introduction of a new 50% target rate for affordable housing.
In spite of this, the city wide target has been lauded by many as a progressive move, particularly in light of many developments failing to even come close to their local authority’s affordability target.