Vacant Building Credit

Meeting: 
MQT on 2015-07-15
Session date: 
July 15, 2015
Reference: 
2015/2281
Question By: 
Len Duvall
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Have you made any assessment of the effect of the Vacant Building Credit on provision of affordable housing in London?

Answer

Answer for Vacant Building Credit

Answer for Vacant Building Credit

Answered By: 
The Mayor

The effect of the vacant building credit is dependent on the type of sites available and how the credit is applied at the local level.

Given that 98% of development in London is on brownfield land, and thus potentially affected by the credit, officers have worked closely with Government to address the unintended consequences that could arise from the application of the credit in the distinct circumstances of London. This has led to revised guidance published by government. In addition, I have provided further guidance in my Draft Interim Housing Supplementary Planning Guidance to ensure that the policy delivers the objective of providing an incentive for development on brownfield sites containing vacant buildings that would not otherwise come forward for development in the context of London's highly competitive land market. This will help ensure that London does not lose out on affordable housing.