London mayor wants housebuilding to double

The London mayor wants the rate of affordable housebuilding to more than double and has slammed the number of luxury flats in the city.

Sadiq Khan says the speed of construction needs to rise from 29,000 new homes a year to 66,000.

He adds that 65 per cent of those should be affordable, up from the current level of 38 per cent, according to the Guardian.

Khan defines ‘affordable’ rents as being no more than a third of average earnings.

He also said property developers were building “too many luxury penthouses that only the very wealthiest investors can afford”.

Khan has this year thrown his weight behind easing London’s housing crisis.

In August the mayor pushed for more affordable homes to be built on public land.

He has also been investigating ways to increase the amount of housing built for social rent.

More news and analysis on London house prices.



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