Sadiq Khan emphasized that without additional government support, London is unlikely to meet its affordable housing target due to a 'perfect storm' of factors impacting housebuilding.
The Mayor of London stated, "It's going to be challenging, in relation to the target we've got with the government. We're going to make sure we do everything we can to get these affordable homes built."
Khan highlighted the urgent need for support towards a City Hall developer fund, estimating that around 1 billion could lead to 16,500 homes, half completed by 2027.
Khan pointed out the myriad challenges facing London's housing market, including low growth, high interest rates, material costs, and the aftermath of Brexit, whichall impede housebuilding.
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