In 2018, Sadiq Khan stated that “as Mayor, I know that our housing crisis is the biggest threat to London’s future. It is the main reason why all Londoners cannot share in our city’s success.” London’s average population growth over the last five years was 1.4%, but its housing growth was only 0.8%. This disparity is reflected in a recent survey undertaken by YouGov, which reveals that 4 in 10 Londoners have considered leaving the capital because of rising housing costs. In light of the ongoing housing challenge that London faces, this Note provides an update on the latest housing targets and delivery to date, as well as a consideration of notable policy initiatives in the context of the draft new Local Plan which is currently going through Examination in Public.
4 in 10 Londoners have considered leaving the capital because of rising housing costs.
London’s average population growth over the five years was 1.4%, but its housing growth was only 0.8%.
The draft new London Plan proposes a 53% increase in London’s ten-year housing target compared to the current plan. The new target also comprises 38% from small sites.
Net additional dwellings for the period 2017/18 have fallen 23% on the previous year.
New builds fell 13% for the period 2017/18 compared to the previous year.
There has been a 30% reduction in planning applications for major schemes in 2017/18.
21 of the 33 London boroughs experienced a decline in net housing delivery for the period 2017/18.
GLA has set a target of 116,000 affordable home starts by 2022, of which 34,994 (30%) has been delivered to date.