The Mayor of London’s housebuilding targets have been questioned by market analysts.
Market intelligence firm, Molior, has deemed Mayor Sadiq Khan’s goals to build 88,000 houses annually in the capital ‘impossible’.
The analysis, titled 'Residential Development In London', found that construction has been decelerating, with only 2,103 private new build homes having been started between January and March this year.
According to Molior, this falls short of the 22,000 quarterly starts required to meet the target.
This year’s figure exceeds last year’s quarterly average of 1,400, however, Molior has maintained that development pace is ‘awful’, with a decrease in sales taking place alongside the delays.
A spokesperson for the Mayor of London said: ‘New measures announced last month will ramp up housebuilding in London and bring forward thousands of homes more quickly.?By reducing the demands on developers in the short-term, the measures will result in more homes including affordable homes being provided to those who need them most.’
An MHCLG spokesperson said: ‘We’re taking decisive action to get spades in the ground in the capital so we can restore the dream of homeownership for Londoners.
‘This includes emergency measures to unblock dozens of stalled sites and build thousands more affordable homes. We will leave no stone unturned to help London meets its housing target.’
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