The Mayor of London is set to double affordable housing options within 5 years
The Mayor of London has recently announced the “London Plan” which includes plans to encourage the building of more than 250,000 new homes in the capital’s 13 outer suburbs as an attempt to solve the housing market crisis.
The draft plan sets London’s development strategy until 2029 as it proposes affordable housing options, green measures, cycle parking, and homebuilding incentives. Khan plans to lift rules that protect the local character and the limits on the density of new residential developments.
Sadiq Khan, who has made it his personal political mission to respond to the housing crisis stated: “I am using all of the powers at my disposal to tackle the housing crisis head-on – removing ineffective constraints on homebuilders so we make the most of precious land in our capital”.
To boost home building the plan proposes a third of all new housing in the capital to be built in small sites, vacant lots, extensions of developments and back gardens to maximize all empty pieces of land. The London-wide housebuilding target has been welcomed by property experts who will finally have the chance to respond to the ever-rising demands of the market.
The green measure will seek to create homes and offices near public transport links to encourage residents to leave their car at home since no additional parking spaces near the stations will be created. In contrast, cycle parking spaces will be created to accommodate cyclists and reinforce a sustainable lifestyle. Khan highlighted that in order to stop relying so much on cars for transport, cycle parking should become available to Londoners across all parts of the city.
City Hall calculates that the pace of development and construction should increase from 29,000 homes a year to 66,000, adding that 65% of these homes need to be affordable. For Sadiq Khan, the housing crisis causes poor health, poverty rise, and threatens social cohesion.
The “London Plan” comprises a long-term strategy that is set to bring more affordable housing to the outer suburbs and restore social rent opportunities.
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