London Mayoral candidates put housing high on their list of priorities

23 April 2012 Categories: News

London Mayoral candidates put housing high on their list of priorities

It seems that Boris Johnson and Ken Livingstone aren’t the only London Mayoral candidates aiming to solve the housing problem in the Capital city if elected. LibDem candidate Brian Paddick and Independent Siobhan Benita have both centred their manifestos on the ever-increasing rental costs in the city and how they can be rectified.
As part of his campaign Mr Brian Paddick has promised to build an impressive 360,000 new rental properties over a 10 year period. He also wants to introduce what he calls a ‘living rent’ which will mean London tenants pay a maximum of one-third of their net salary in rent. At present, figures show that in 22 of London’s 33 boroughs, private rental tenants pay over 50% of their salary in rent.

Independent candidate Siobhan Benita, is taking a different tack however by proposing the construction of fixed-priced housing built on council owned land.
According to her plans the land would be donated to housing developers on the proviso that the finished properties are sold into a dedicated housing market controlled by a newly formed department known as Homes for London (set up specifically to implement Benita’s policies). She also proposed that the new properties would be sold or let for up to 50% lower than the market rate.

Both strategies have their merits but whether either will be enough to topple Boris remains to be seen.