Housing: Ensuring supply in the Capital meets demand
A healthy housing market is vital to our economy providing growth and jobs across multiple sectors and helping sustain a mobile and dynamic workforce
Our London Business Survey found that housing is a key threat to competitiveness and so influencing government policy to see the ramping up of supply of new homes is a CBI priority.
The CBI welcomed the Mayor’s revised housing strategy published earlier this year (April 2014) which sets out a long-term ambition to increase housing supply to at least 42,000 new homes per annum, around double what has been achieved over the last 20 years. In the 2015-18 investment round the Mayor will use the funding available to increase the delivery of affordable homes to 15,000 per annum.
The strategy has the overriding aim to increase the supply of housing and to ensure that these
homes better support London’s continued economic success. Underpinning this strategy are 5 key priorities:
Increasing housing supply to levels not seen since the 1930s;
Better supporting working Londoners and helping more of them into home ownership;
Improving the private rented sector and promoting new purpose-built and well managed private
Pushing for a new, long-term financial settlement for London Government to drive housing delivery; and
Bringing forward land for development and accelerating the pace of housing delivery through
Housing Zones and the London Housing Bank.
The CBI will ensure that the business view on housing is clearly articulated at an upcoming
round table with Richard Blakeway, deputy Mayor for Housing, Land and Property.
Read more about London business views on housing here.