GLA London Plan Could Stifle Provision Of New Homes, Warns RICS

LONDON-The Greater London Authority’s proposal that 50 per cent of housing in new developments must be ‘affordable’ could stifle rather than boost the provision of affordable housing, says the Royal Institution of Chartered Surveyors.

At a seminar held at its Westminster headquarters, RICS members debated with deputy London Mayor Nicky Gavron the claim that unrealistic targets for affordable housing will lead to unaffordable development.

The RICS agrees that providing affordable homes is a crucial part of the future development of London, but warns of the dangers which might follow if the GLA’s 50% new building target is strictly adhered to. The target of 50% may appear so unattractive to developers that plans are shelved and less housing is built.