🏡 Big news in the world of housing: The government is cutting the affordable homes requirement for developers looking to fast-track planning in London, from 35% to 20%. This move is part of a push to address the city’s ongoing housebuilding crisis, where the high cost of construction, interest rates, and lingering pandemic effects have left many boroughs with no new housing starts this year.
🏗️ Housing Secretary Steve Reed is working closely with Mayor Sadiq Khan to boost construction and meet a target of building 1.5 million homes by 2029. Though some critics worry about the decreased affordable housing threshold, Reed argues that lowering it will actually lead to more homes being built overall, because it makes projects more viable for developers.
💪 In addition to this change, the government is giving the mayor new powers to fast-track large housing schemes and is investing £322 million to jumpstart developments. These measures are designed to kickstart thousands of new homes, including vital social and affordable housing.
🌿 While some are concerned about the impact on London’s green spaces, supporters see it as a necessary step to address the capital’s housing crisis. They emphasize the importance of action as more than 300,000 planned homes remain unbuilt.
🏙️ This is a bold move to rethink London’s landscape, aiming to balance the need for housing with the preservation of the city’s vital green areas. Mayor Khan, who grew up in a council house, is determined not to let the supply of affordable housing dry up, insisting this is what London needs for a brighter and fairer future.
🚀 What’s your take on this change? Will it lead to more homes in London, or are there better solutions? Let us know your thoughts in the comments below! 👇