24 Oct

Mayor launches housing policy initiative

Mayor launches housing policy initiative

London mayor Boris Johnson has begun work on a new housing policy which is intended to provide a more flexible approach towards ensuring London builds 50,000 affordable new homes for first-time buyers in the next three years.

Mr Johnson, who pledged in his mayoral election manifesto to scrap Ken Livingstone's central allocation of targets to each borough, has started negotiations aimed at establishing what each borough can contribute towards the goal.

He stated that he wanted every borough to do what it can, but added: "I believe that this can only happen by working with them so that we take account of individual circumstances and agree together what can sensibly be delivered."

London needs major action taking to ensure thousands of affordable new homes are built, the National Housing Federation said yesterday.

It stated that the average annual salary needed to buy a home at the bottom end of the London market is £56,000.
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