Responding to today’s ONS House Price Index figures that show house prices in London rose by 18.8% in the year to September but fell slightly on last month, London Assembly Labour Group Housing Spokesperson Tom Copley AM said:
“Whilst it is welcome that prices are showing signs of stabilising house prices are still up 18.8% on September last year. The average cost of a London home is £162,000 more than when Boris came to office. For many Londoners the increases we have seen over the past six years have made the dream of owning a home increasingly unaffordable.
“For years the need for housing has outstripped the number of new homes being built and yet the Mayor has failed to take action to tackle the capital’s housing crisis. The evidence shows we need to build 62,000 homes a year in London; last year fewer than 18,000 were built. It’s simply not good enough that under Boris Johnson the number of new homes built in London each year has never come close to matching the numbers needed.