In advance of the Chancellor’s Autumn statement, Darren Johnson has raised his concerns that the government’s plans are likely to lead to increased rent and house prices in London.
Darren Johnson AM has called on the Mayor of London to lobby for radical changes to the Government’s budget in advance of the Chancellor’s autumn statement. Based on a report he recently published on London’s housing market, Darren believes the Government’s current course will see rents and house prices continue to rise faster than incomes. The report found that the affordable housing budget in London has already been cut by 66%, and that even being optimistic about house building it could take 30 years for supply to make house prices affordable in London.
Darren Johnson commented,
“The Mayor must drop his support for huge cuts to the affordable housing budget, and for the welfare cuts that are driving up homelessness and poverty. We need a statement from the Chancellor that puts billions into genuinely affordable housing instead of cutting the budget. We need to reduce the benefit bill by cutting rents instead of cutting help to hard-pressed people.”
“There are many small measures the Government could take, such as freeing councils to borrow and build more homes. But an Autumn statement likely to mean more rent and house price rises in Londoncomplete change of direction is needed if we want to see rents and house prices stabilise in London.”
You can see Darren Johnson’s rent map of London here.