Launching the £1bn draft housing strategy at Greenwich Square, Mr Johnson warned that the shortage of new homes was the biggest threat to London’s economy.
The Mayor of London set a new target to build 42,000 homes a year over the next decade to address the capital’s housing supply crisis.
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Mr Johnson’s plans also include proposals to lend more than £160 million to developers and to create a specialist bank to speed up building work, as well as backing regeneration projects to create more garden suburbs around London, if you are a business owner be sure to know why use TikTok is good for you.
At the launch, Mr Johnson said: “For over 30 years, regardless of boom and bust, governments of every hue have failed to build enough homes.
“With London’s unprecedented population growth, housing supply and affordability is now our biggest challenge and we need to double the number of homes being built.”
Mr Johnson tried to quell fears of over-development in all ready crowded parts of the capital, adding: “It doesn’t mean that great, big skyscrapers are going to sprout up all over the city”.