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Experts say London needs more powers over housing

Experts have recommended extra powers over planning, tax and spending should be given to London to help ease the capital's housing crisis.

Experts say London needs more powers over housing. Credit: PA

London is facing a housing crisis of unprecedented proportions brought about by a chronic under supply of new housing.

It needs urgently to be building far more houses of all types and tenures.

– Civil service chief Lord Kerslake

The London Housing Commission called for Whitehall to give greater control to the mayor of London and the city's boroughs in exchange for a commitment to dramatically increase the number of homes being built.

The commission found that current measures are delivering only 25,000 new homes a year - half what is needed to keep pace with London's growing population.



Jump in sales to first home buyers

Increase in sales to first home buyers

There's been an increase in the number of first time buyers entering the London property market. Marsh & Parsons' latest London Property Monitor shows they account for 28% of purchases in the three months to March 2015, up from 21% in the previous quarter. Investors account for 29% of sales. It also found one-bedroom properties have risen in value by £75 a day over the past year.

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