First Dibs

The Mayor is aware of public concern about the impact of housing being bought for investment, particularly by overseas buyers, and its effect on the housing market.

That's why he has been working with the homebuilding industry and academics to understand the issue and find ways to make new lower-cost homes in the capital available to Londoners and UK residents before buyers from overseas.

Proposals from industry

In February 2018, the Mayor welcomed voluntary proposals from organisations in the homebuilding industry to ensure that new, lower-cost homes in the capital are marketed and sold exclusively to Londoners and UK-based buyers first. The proposals involve organisations committing to the following:

  • sales and marketing of all new build market properties in London (valued at £350,000 or less) to be restricted to UK residents in the first three months of availability
  • an additional ‘head start’ of up to one month to be available for Londoners, during which only those living or working in the capital will be able to purchase new properties valued at £350,000 or below

In addition, these organisations have committed that all homes sold under the Help to Buy scheme in London will be marketed through the Homes for Londoners property search tool (up to the Help to Buy value threshold of £600,000).

Homebuilders will undertake to make basic checks to ensure that purchasers are eligible. This will require prospective purchasers to provide proof of residence or employment.

Who has put forward voluntary proposals?

The list below outlines those organisations who have made these voluntary proposals to the Mayor, including members of the Home Builders Federation and the g15 group of large housing associations, and highlights which have offered a one week or one month ‘head start’ for Londoners.

The Mayor expects this list to grow as more organisations make similar voluntary proposals.

One week

One month

Barratt

A2 Dominion

Bellway

Anthology

Countryside

Battersea Power Station

Crest Nicholson

Berkeley Homes

Fairview New Homes

Catalyst

Hadley Property Group

Clarion

Hill

Gateway Housing Association

Lendlease

The Guinness Partnership

Linden Homes

Hexagon Housing Association

Mears New Homes

Home Group

Muse Residential

Hyde

Redrow

L&Q

Taylor Wimpey

London Borough of Ealing

 

Look Ahead

 

Metropolitan

 

Network Homes

 

Newlon Housing Trust

 

Notting Hill Genesis

 

NU Living

 

Octavia Housing

 

One Housing Group

 

Optivo

 

Origin Housing

 

Peabody

 

Quintain

 

Red Door Ventures

 

Shepherds Bush Housing Group

 

Southern Housing Group

 

Swan Housing Association

 

Telford Homes

 

Wandle

 

Wates Residential

 

Where can I find First Dibs properties?

First Dibs properties will be listed on the new Homes for Londoners property search tool.

I’m a homebuilder. Where can I sign up?

If you are a homebuilder and would like to make a similar proposal to those outlined above and be included on the list of homebuilders mentioned, please email us.