Mayor of London Ken Livingstone has called on private investors to build more homes with three or more bedrooms in the capital for the private rental market.
Speaking last Friday the Mayor said he wanted “to encourage investment to provide more homes to rent in all new housing developments, both private rented and social rented homes” this, the Mayor said, would “meet the needs of the many Londoners who simply cannot afford, or do not wish, to own their homes but want to live in well managed housing.”
Mr Livingstone was speaking speaking in the wake of an independent report called ‘Who buys new market homes in London?’ .
The report was commissioned by the Greater London Authority with support from the London Development Agency with the aim of gaining a better understanding of the market for new build private homes.
The Mayor said in large housing developments were to be sustainable it was important to “increase the supply of larger homes to meet the needs of families and ensure that new rented housing is properly managed.”
The report is available to download from: www.london.gov.uk