Formally adopted in October 2014, the London Housing Strategy sets out the London Mayor’s policies to meet the housing needs of London’s ever-growing population and working households.
The Mayor’s strategy has put the provisions in place to deliver a further 42,000 homes per year, although achieving this aim will not be straightforward, and the Mayor has already reaffirmed that it will require the full commitment of a variety of actors, including the London boroughs, of government, and of both private and public sector developers.
The 2014 Housing in London report provides detailed evidence on London's housing challenge, but what are the headlines? Let’s take a look:
Improving rental standards
In the plan, the introduction of a London Rental Standard will see the quality of management standards in the city’s ever growing private rental sector increase. In fact, the plan explicitly states that they want to accredit 100,000 landlords and lettings agents by 2016.
At present, London’s housing ranks among some of the most expensive in the world. It is hoped that the Mayor’s plan to increase the number of affordable homes by 45,000 will decrease this. Of the 45,000, 60% will be up for rent while 40% will be for low cost home ownership.
Tackling rough sleeping
In London particularly, homelessness has become a hot topic of late, and the London Housing Strategy seeks to address the issue.
The strategy’s aim is to collaborate with councils and local partnerships in order to ensure that nobody sleeps on the streets for a second night, and so that the number of new rough sleepers is reduced.
Helping Londoners own their homes
By 2020, the Mayor’s plan is also set to double the number of first steps homes, a number that will be doubled again by 2025. Overall, it is hoped that such a plan will help get a quarter of a million Londoners onto the property ladder.
The creation of a better private rented sector
The plan also contains an outline for a better private rented sector, including plans to encourage investment in developments, even on the Mayor’s land. As part of this, every Mayor-owned site will have an exit strategy in place by 2016.
With the help of the London Boroughs, the strategy also aims to define ‘Housing Zones’. Each of these will be nominated by respective boroughs, and then approaches to planning, land assembly, funding and taxation will be derived.