Housing deficit challenge for next mayor
2 March 2016, Blog
According to the latest London New Homes Monitor from Stirling Ackroyd, the next London Mayor faces a formidable housing challenge.
London’s annual supply of homes is 22% behind official targets for 42,000 completed London homes per year, with 32,910 new homes granted approval by planning authorities across Greater London in 2015. Applications in 2015 represented a total of 42,910 potential new homes. However only 77% of these were accepted by planning authorities.
Andrew Bridges, managing director of Stirling Ackroyd, has said that the capital has the finance, the space and unquestionably the demand for new homes, but getting planning permission is the hurdle. He has warned that “Politics and personalities aside, today’s housing deficit is deepening and the electoral clock is ticking. The mantra in 2016 should be planning, planning, planning.”