A new report by the Centre for British Progress reveals that achieving the Government's housebuilding targets could save London renters up to £251 a month by the fifth year. Currently, Londoners spend over 40 percent of their pre-tax income on rent due to a long-standing mismatch between population growth and housing construction. The analysis argues that increasing supply would generate moving chains, freeing up older properties and resulting in rents that are 9.7 percent lower than projected trends. Researchers also estimate that even a 10 percent delivery of social housing from these new builds could drastically reduce the number of families in temporary accommodation, saving local authorities millions annually. Co-author Rob Blackie emphasized that chronic underbuilding over the past decades has driven costs to unaffordable levels. Fuente: The Standard #London #Housing #Property #Rent #UKPolitics
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