Budget announcement to help London homes shortage
26 March 2015, Blog
The Chancellor George Osborne announced in last week’s budget (18 March) that the government will do more to supply new homes in the capital. The Mayor of London will be given more planning powers, and that the newly established London Land Commission will be given more funding to prioritise brownfield land for development.
London has a target of building at least 40,000 new homes every year, and the government has identified development on brownfield sites as the primary way of achieving this.
On the same day as this announcement, the Mayor, Boris Johnson revealed two new housing zones – Waltham Forest and Wembley – which he said would deliver thousands of homes and new commercial and retail space. The total number of housing zone areas now stands at eleven. These areas have relaxed planning powers, thus allowing developers to build more quickly.