Propertymark, the leading membership body for property agents has written to London Mayor candidates highlighting proposals to tackle the unique housing challenges that the capital experiences.
Londoners go to the polls on Thursday 2 May 2024 to elect a Mayor and 25 Assembly Members, with housing policies featuring in most candidates manifesto pledges.
Propertymark’s plan includes expanding the Mayor’s Energy for Londoners programme to support landlords and homeowners to decarbonise their properties, releasing land held by public bodies for housing development, encouraging the capital’s employers to support workers housing needs and tackling short-term lets thorough greater enforcement.
The professional body’s plan for London welcomes candidate pledges for an increase in affordable social housing. However, Propertymark recognise that demand for private rented sector accommodation is ahead of supply and more must be done by the Mayor to incentivise landlords – with rent controls must albe avoided.
To boost the supply of new homes there must be a greater focus on speeding up planning process and building on land under the Mayor’s control. This will ultimately allow more properties to be built and help make housing in London more affordable. The Greater London Authority, Transport for London and the National Health Service should also release land for residential development and ensure that any development works alongside local needs - including provision for families and older people.
Propertymark has also called for the successful Mayor to have greater devolutionary powers to tackle the challenges that the Capital faces.
The group's Policy and Campaigns Officer, Tim Thomas, said:
"With a population of over nine million, the highest house sales and rental values in the country and challenges with the supply of all housing tenures, the next Mayor of London needs to use all powers at their disposal to tackle problems the Capital faces.
London is facing a housing crisis and more must be done to boost supply across all tenures, work with councils to deliver more homes more quickly, utilise land under the Mayor’s control and provide more support to existing homeowners and landlords to make energy efficiency improvements to their property.”
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" However, Propertymark recognise that demand for private rented sector accommodation is not keeping up with supply...."
I take it you mean the other way round?
Worryingly, Khan & London is one of the UKs top performers when it comes to building new social housing. In fact, London’s social housing pipeline is DOUBLE the rest of the UK combined!!!!
As for renters, it would be great to see an NFP BTR company start as this sector is currently targeting the premium market almost exclusively.
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