A new report has said that the cost of an average London home will soar by more than 40 per cent to almost £650,000 in just six years.
A London developer plans to build the tallest residential tower in the U.K. on a site in the city’s Canary Wharf area.
UK property prices are rising faster than at any time since 2010 according to a new survey - but why?
The Mayor has defended London's rapidly changing skyline after concerns the capital is being overdeveloped.
Figures show more than 200 buildings of 20 storeys or more could be given the go-ahead over the next few years. Supporters say they'll provide much needed housing, but critics are worried it will radically alter the city forever. Our Political Correspondent Simon Harris has this report.
Mike Dunn, the Principal Inspector of Historic Buildings at English Heritage, said the results of the survey should ring alarm bells.
"They can overshadow historic buildings, they can overshadow whole historic areas, they can fundamentally change London's familiar skyline and it is something which needs to be managed very carefully."
Mr Dunn added that some of the new skyscrapers were appearing in areas where historic views aren't protected by current guidelines.
"The areas that we are seeing huge numbers of tall buildings aren't in those areas which are currently well-protected by that view management framework, areas like Vauxhall, Nine Elms.
"I think we're getting huge walls of development at the moment."
– Boris Johnson, Mayor of London
Of course we should be worried about unnecessary, ugly and intrusive skyscrapers in the wrong place.
What I don't think you can do is fossilise London and say that development is over.
This computer generated image shows how the City of London will look when the new skyscrapers have been built.
This computer generated image shows how South Bank and London Bridge will look when the new towers are complete.
Three quarters of the planned tower blocks are residential. Rosemarie MacQueen, a senior planner at Westminster Council, said:
Dramatic change is happening with little debate. More consultation is needed before London changes for ever.
London is in the middle of an unprecedented skyscraper boom. A new survey reveals another 236 high-rise buildings could soon appear on the capital's skyline.
The disclosure has promoted renewed concern about the impact on historic views of London. The survey was carried out by a design think-tank called New London Architecture. The figures suggest the boom is being driven in part by London's housing crisis.
Publicly owned sites should be sold-off to help ease London's housing crisis, according to a new report.
The report, called Home Truths, also calls for the creation of new communities in the south west and north east of London to meet burgeoning demand.
It recommends new suburbs are created, with Brimsdown, Chessington and Kingston upon Thames pinpointed for development.
The study was carried out by London First's Housing Task Force, which is made up of businesses from across the industry, from developers to housing associations.
Experts are warning that stronger curbs must be considered for the housing market amid fears that London is starting to show "bubble-like conditions".
New research by the EY Item club shows that by 2018, the average house price in London is expected to reach nearly £600,000.
That figure is some 3.5 times the average price in Northern Ireland and more than 3.3 times the average in the North East.
The report said that while the rest of the UK is returning to normality, London is showing signs of "bubble-like conditions" and policy makers should be prepared to step in.
But Andrew Goodwin, senior economic advisor to the EY ITEM Club, said that calls to scrap or alter Help to Buy were a "red herring" and doing this could choke off the housing market recovery in the rest of the UK without tackling London's particular issues.
"House prices across most of the country remain well below their pre-crisis peaks and there seems little danger of a bubble developing.
But London, which is suffering from a combination of strong demand and a lack of supply, is increasingly giving us cause for concern."
Recent figures showed that house prices in London increased at more than double the rate of the rest of the UK over last year.
London house prices reached £403,792 on average, while prices across England and Wales generally reached £167,353.
- Haringey Council racked up the biggest bill with a spend of £197 million
- In second place is Westminster with £111 million
- Third is Enfield with £59 million
Some of the other highest spends include:
- Kensington and Chelsea with £53 million
- Newham with £35 million
- Islington with £33 million
More than half a billion pounds has been spent by local authorities in London on emergency housing since the general election. Councils have been forced to place people in accommodation, such as hotels and B&Bs, after they presented themselves as being homeless.