MediaResponding to Mayor Sadiq Khan’s pledge to build 40,000 council homes by 2030 Sam Richards, from pro-growth campaign group, Britain Remade, said:
“The last time house prices were as high as they are today relative to the average salary, Queen Victoria was on the throne. Whoever wins the coming Mayoral election they need to be more ambitious and make tackling London’s crippling housing crisis a priority.
“40,000 new council homes may sound like a lot, but this is a drop in the ocean compared to the number of homes needed to meet demand. If the capital is to continue to thrive more homes of all types are needed.
“Our report, Get London Building shows how by replacing London’s post-war estates and gently densifying over 530,000 extra homes could be built across the city. On top of this, 540,000 social homes could be rebuilt providing warmer, larger and greener properties for existing council tenants.
“High rents and house prices don’t just mean Londoners cannot get on the housing ladder, it holds back our economy too.”