Mayor of London, Sadiq KhanMayor of London, Sadiq Khan
Let’s be real: it’s not Netflix subscriptions and flat whites that are holding Londoners back from buying their first home, it’s surging house prices in our city.
For many Londoners in their 20s and 30s today, they’ve only known a world where wages have stagnated, where the cost- of -living keeps rising, and where house prices and rents go up and up.
Here’s the thing: we’ve finished building more new homes in our city than at any time since the 1930s, but the absolute mess left by the former government is going to have a catastrophic effect on homebuilding in the future.
We’re actually in the midst of the most difficult period for homebuilding in London since the global financial crash of 2008.
We know what needs to be done, but we need a long-term plan for funding from our new government to put spades in the ground.
It’s the only way to keep London building.
