Sadiq Khan acts to increase affordable housing and prioritise for Londoners

[Angelina]

http://www.mayorwatch.co.uk/sadiq-khan-orders-tfl-to-sell-land-to-property-developers-at-below-market-value/

[Blah Blah]

Interesting. It also shows though how law and planning rules are getting in the way of any meaningful attempts to do something. Also why does it have to be private developers who build on the land? Why can't it be housing associations or even councils the land is sold to?

[Loz]

I quite like Khan. Quietly pragmatic and actually gets stuff done with minimal ideological nonsense.

If only he could lead the Labour party.

[Cardelia]

Pity he couldn't have enforced a greater percentage of social/affordable housing in the new AFC Wimbledon stadium development.

http://www.yourlocalguardian.co.uk/sport/14696865._All_systems_go___Sadiq_Khan_hands_back_AFC_Wimbledon_stadium_decision_to_Merton_Council/

9.6%. Great, that's really going to make a difference.

[LondonMix]

It doesn't have to be private developers. The article is simply assuming that even with the 50% affordable housing requirement, private developers (due to economies of scale and general efficiency) will be the highest bidders to join the joint-venture with TFL. That's not unreasonable to assume.

Anyhow, raising the affordable housing requirement (as was his pledge) was always going to reduce land values. It appears though that his focus will just be government land rather than imposing a new 50% requirement across all of London. Otherwise there would be no legal problem.

Blah Blah Wrote:

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> Interesting. It also shows though how law and

> planning rules are getting in the way of any

> meaningful attempts to do something. Also why does

> it have to be private developers who build on the

> land? Why can't it be housing associations or even

> councils the land is sold to?

[M.R]

I hold my breath in anticipation... Affordable???

[Blah Blah]

Quite. Affordable is just a by word for as much as you can get away with, towards market prices.

[Angelina]

Londoners being given priority over overseas investors is the main thing.

If developers know that offplan will sell at whatever price they set (foreign investors, largely) then it will follow that they will aim for the high end market.

If they are restricted to sell at to Londoner's primarily, it should mean that prices will be lower, flats of smaller size/ lower spec.

It's a good thing.

[Saffron]

But the question, for me, is how much difference will it make to prioritise Londoners, if the properties are not truly affordable for average Londoners? :-/

[Elphinstone's Army]

And can he/will he do anything to help the hapless tenants and co-owners of Solomons Passage