The Mayor has been forced to row back on his 50 per cent affordable homes target after realising what I have warned for some time – that it is totally unfeasible to ask developers to effectively give away half of their new homes.
By continuing to insist on a 35 per cent target, the Mayor is doing nothing to incentivise developers to get building in London.
A one-size-fits-all affordable housing target risks stifling new housing development in the capital. We need a more business-minded approach that nurtures the housing market and ensures a better future for Londoners.
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