Live updates

Postal workers union hits out at Mount Pleasant development

London is in desperate need of truly affordable decent housing and Boris failed in his duty as Mayor today by approving this planning application.

Boris says he is committed to delivering affordable housing for Londoners, but he has no idea about what that actually means for people working in the capital.

It's an absolute travesty that postmen and women working just next door will be priced out of this luxury development at Mount Pleasant.

– Billy Hayes, general secretary of the Communication Workers Union

Advertisement

'Affordable' rents in new development up to £2,800 per month

A leaked report on the redevelopment of the Royal Mail site at Mount Pleasant in Clerkenwell reveals that the Mayor plans to charge up to £2,800 per month for 'affordable' flats.

An artist's impression of the potential development on the Mount Pleasant site Credit: Royal Mail Group

Boris Johnson is expected to grant consent for the development today.

The new site would contain 98 'affordable' rent apartments - with the report suggesting tenants could be charged £1,170 per month for a one bedroom flat, up to £1,690 for a two bedroom and up to £2,800 per month for a four bedroom family home.

The Guardian estimates that a family living in one of the four bedroom flats would need an income of £100,000 to make it affordable.

It's making a complete mockery of the term 'affordable'.

Boris Johnson doesn't really understand social housing in London - or he doesn't care - either way, Londoners are missing out on a great opportunity here for more affordable housing in the middle of London.

– James Murray, Islington Council

More than half support Labour's mansion tax proposals

Kensington and Chelsea is the capital's most expensive borough - where the average price of a home is more than £1 million Credit: Reuters

More than half of consumers believe Labour's proposals for a mansion tax on properties worth over £2 million are a good idea - but over a third still think the plans are unfair.

The results come from a national survey by Rightmove - who found that 52% supported the proposals while 38% thought it would be a bad idea.

London would be disproportionately hit by the tax if - with 72% of the affected properties in the capital, and a further 16% in the South-East.

Estate agents have criticised the move as effectively being a tax on Londoners who already have to battle with stamp duty charges due to rocketing house prices:

If the mansion tax is introduced, those sellers who have had their homes valued at over £2 million will need to lower their expectations on the deal they'll be able to get, in the same way stamp duty bands affect asking prices.

Whilst it could help raise funds for other causes, according to our survey there are a large proportion of people who wouldn't be affected by it who still think it's unfair.

– Miles Shipside, Rightmove director

Boris to make final decision on Royal Mail flats

Royal Mail's Mount Pleasant site in North London. Credit: John Stillwell/PA Wire.

Boris Johnson is today expected to approve controversial plans to redevelop land at Royal Mail's Mount Pleasant sorting office in North London.

The proposals include hundreds of flats but have been criticised for their low proportion of affordable homes.

The mayor chose to take the final decision away from Islington and Camden councils after a request by Royal Mail.

Advertisement

Nearly half of working adults living at home 'can't afford to move out'

Despite working, 48% of 20-to-34 year olds who live with their parents say this is because they can't afford to rent or buy their own home. Credit: Chris Ison/PA Wire

Despite working, 48% of 20-to-34 year olds who live with their parents say this is because they can't afford to rent or buy their own home, new Shelter research reveals.

A lack of affordable housing was the single biggest reason why so many young adults in England are unable to fly the nest, a YouGov poll commissioned by the charity found. Additional data from the Census, released to Shelter, showed there are 1.97 million working young adults living with their parents. This accounts for a quarter of all 20-to-34 year old working adults in England.

London rent double that outside the capital

London rent now double that outside capital Credit: Reuters

For the first time ever, the cost of renting in London is double what it costs across the rest of the UK.

New figures from the HomeLet Rental Index show the average rent in the capital is now £1,412, compared to £694 elsewhere.

It also revealed rent in London has increased 11.2% in the last 12 months.

Load more updates