Government figures released today show that the net supply of new housing in London fell by 27% in 2010/11 to 17,830 homes, the lowest level for nine years. That’s half the number the Mayor wants to see built every year, a target that wouldn’t even stop prices rising faster than incomes. London’s housing supply fell faster than any other region in the UK.
Jenny Jones said:
"The Mayor has watched house building plummet for two years. If it weren’t for the affordable housing built with public subsidy this would look much worse. I’m concerned that the 66% cut to the Mayor’s housing budget for the next four years could prolong this slump, forcing people to cope with ever higher house prices and rents in London."