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Property News Desk
Supply of affordable housing in London is becoming acute according to a new survey showing that construction is running at 15,000 units per year, in comparison to the 30,000 units needed to keep up with demand. According to Clive Paine of Drivers Jonas Deloitte the property consultancy "supply is running around half of London's stated need of 30,000 units a year and as the impact of reduced affordable housing grant kicks in I expect supply to remain at this or even lower levels in the future".
Family homes being built in London only account for 5 per cent of all units being built in the capital.
The Mayor of London, Boris Johnson is committed to building 50,000 new homes by 2012, said: “The capital is a fantastic city to live in, but for those on lower or middle incomes, getting on to the housing ladder can be extremely tough. So it is excellent news that we are closing in on delivering this record target of 50,000 new affordable homes, in spite of some of the worst economic conditions for many years."
An affordable housing show is taking place at the Queen Elizabeth Centre in Westminster on Saturday aimed at those looking for affordable homes, entry is free photo credit: Natalie Mitrides L-R Mayor Johnson, Deputy Kit Malthouse. cllr Lynn Hillan
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