WHITEHALL

London's housing problems need a different approach

The impacts of the Government's controversial Housing and Planning Bill will be most acute in the capital. London Councils executive member for housing, Sir Steve Bullock, outlines what the city needs to manage the burgeoning housing crisis.

The capital relies on suitable accommodation being available to low paid workers who are essential to the city's thriving economy. While the government's willingness to give them the opportunity to own a home is admirable, there are concerns that the Bill may limit boroughs' ability to deliver the number and variety of homes needed. Ultimately, London needs more power to manage its unique housing situation.

The Housing and Planning Bill proposes the introduction of starter homes, a new affordable homeownership product. Available at up to 80 per cent of the market rate with a price cap of £450,000 in London, after five years starter homes can be sold at their full market price, with any profits kept by the homeowner.  

Popular articles by Sir Steve Bullock

SUBSCRIBE TO CONTINUE READING

Get unlimited access to The MJ with a subscription, plus a weekly copy of The MJ magazine sent directly to you door and inbox.

Subscribe

Full website content includes additional, exclusive commentary and analysis on the issues affecting local government.

Login

Already a subscriber?