House prices

Meeting: 
MQT on 2014-11-19
Session date: 
November 19, 2014
Reference: 
2014/4469
Question By: 
Nicky Gavron
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Savills recently said that London has now surpassed Hong Kong as the world's most expensive city, largely due to the high cost of housing. Do you agree that this is a serious problem. If so, do you agree that your policies have failed to prevent this, and therefore what policies require change to reverse this?

Answer

Answer for House prices

Answer for House prices

Answered By: 
The Mayor

Like many international cities, London has a historic housing affordability challenge, due to a long-standing failure of supply to meet demand and London's recent remarkable growth in population and employment. The best solution is to dramatically increase London's housing supply, and I have set out detailed plans to do just that.