Boris Johnson sets out bold vision to build new homes

London Mayor Boris JohnsonThe Mayor of London, Boris Johnson has this week announced initial funding of more than £1 billion to deliver thousands of homes and create new jobs in the construction trades.

This is part of the Mayor’s ambitious scheme to build at least 42,000 homes a year to meet the demands of the city’s ever increasing population and boost the local economy.

This initial new funding package of over £1 billion will support the delivery of 45,000 more low cost homes for hard working Londoners. Additional funding is set to be unveiled soon.

The Mayor of London, Boris Johnson said: “For over thirty years, regardless of boom and bust, governments of every hue have failed to build enough homes. With London’s unprecedented population growth, housing supply and affordability is now our biggest challenge and we need to double the number of homes being built.

“This requires a radical shift in how we prioritise housing to ensure we do not compromise our economic growth, and a collective effort from City Hall, government, and industry to treat housing as an essential infrastructure.

“We are overseeing the largest release of public land for a generation to ensure we maximize housing supply. We’ll have delivered 100,000 new low cost homes but we won’t stop there.

“The new funding and plans today will ensure thousands more hard working Londoners are helped with homes over the next decade, together with a raft of new and innovative ideas to unlock finance and the huge potential to develop new homes and communities across the capital.”

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