Supply of luxury homes

Meeting: 
MQT on 2016-03-16
Session date: 
March 16, 2016
Reference: 
2016/1170
Question By: 
Nicky Gavron
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Do you agree with Capco chief executive Ian Hawksworth's assessment that London has saturated the market for luxury homes, as reported in the Guardian on 24 February 2016?

Answer

Answer for Supply of luxury homes

Answer for Supply of luxury homes

Answered By: 
The Mayor

I agree that the increase in housing supply has had the desired effect of bringing down prices in this market segment, and I would like to extend the phenomenon to the rest of London's market by meeting in full our need for around 50,000 new homes a year.