20
Nov
Johnson unveils London housing plans
London mayor Boris Johnson has unveiled a £5 billion plan for
housing in London, which will unfold over the next three
years.
Mr Johnson's blueprint will seek to address a number of issues,
including affordability for first-time buyers.
The measures will include using money to restart projects that have
stalled because of the housing downturn, buy up unsold houses to
provide affordable homes and ensure new property is built to high
standards of design and environmental friendliness.
In addition to this, any household earning up to £72,000 will
be eligible for low-cost ownership schemes and there will be
initiatives to help make available more homes for rent.
Speaking about first-time buyers, Mr Johnson said of the plan: "It
is designed to meet the needs of Londoners aspiring to get a foot
on the housing ladder," adding that many such people had been
forced to move away from the capital in the past because of the
difficulty of buying there.
Figures from the Land Registry show that the average house price in
London in September was £328,927, whereas the average for
England and Wales was £168,814.
