Responding to ONS figures published today that show house prices in London rose by a record 20.1% in the year to May, Tom Copley, London Assembly Labour Group Spokesperson on Housing, commented:
“For many Londoners struggling to get a foothold in the burgeoning property market, waking up to the news that property prices have risen again will feel like groundhog day. The likelihood of owning your own home is becoming an ever more distant dream for too many Londoners.
“People are crying out for serious leadership on housing in London. Boris Johnson has utterly failed in this regard over the past six years of his Mayoralty. A key driver for the soaring property market is the fact that on his watch London is currently only building a third of the 62,000 new homes we need each year to keep pace with our growing city.”