Source link : https://london-news.net/headline-sky-high-housing-costs-in-london-a-threat-to-the-citys-future-and-affordability-crisis/
According to a think tank’s analysis, the expenses associated with constructing homes in London exceed those in other regions of England.
The Centre for London revealed that the initial financial outlay for building the government’s goal of 88,000 new homes each year in the capital is approximately 43 times greater than the target set for the West Midlands.
This research was presented during the centre’s 2025 housing summit on Wednesday, where Sem Moema, the chair of the London Assembly housing committee, remarked, “If the housing crisis remains unaddressed, the essence of the city will be lost.”
A spokesperson for the Mayor of London emphasized, “The mayor is committed to collaborating with the government to create more truly affordable housing options.”
In a separate survey conducted by the politically independent think tank, it was found that 60% of London residents had contemplated relocating outside the capital due to the escalating housing costs in the last year, as reported by the Local Democracy Reporting Service (LDRS).
Ms. Moema, a Labour representative for Hackney, Islington, and Waltham Forest at City Hall, noted: “In my constituency, we are witnessing the gradual decline resulting from the persistent inability to resolve the housing crisis over the past 15 years, which is changing our city’s character for the worse.”
“In all three boroughs, we are even faced with the possibility of shutting down schools because there are virtually no…
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Author : rimmaruslan98@gmail.com
Publish date : 2025-05-02 15:12:00
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