Boris Johnson: ‘London must build 40k new homes a year’
London’s mayor has unveiled ambitious plans to create 40,000 new homes as he announced his vision to make the capital the ‘best big city in the world’
The mayor’s ‘2020 Vision’ unveiled today (11 June) called for ‘urgent and bold’ action to deliver an additional 400,000 homes in the next 10 years.
The landmark document called for greater government and foreign investment in the capital and earmarked 21 opportunity districts including Battersea, the Royal Docks, Greenwich, Tottenham and Croydon as key areas for new housing.
It said new affordable housing was desperately needed as London’s population had the potential to reach 8.7 million by 2016 and hit 10 million by 2030. Under the mayor’s projections at least one million new homes would be needed by the middle of the next decade.
Other major investments highlighted by the mayor included Crossrail Two, the Northern Line tube extension, the redevelopment of Euston station and new river crossings. Work to renew the Central, Piccadilly and Bakerloo lines was also described as an ‘urgent’ priority.
New Crossrail stations at Southall and Ealing have the potential to deliver 4,000 homes and 2,000 jobs, according to the document, while a Crossrail-HS2 hub interchange at Old Oak Common could see 22,000 new homes and 50,000 jobs created.
Developers ‘sitting idly’ on sites could be threatened with compulsory purchase under Johnson’s new ‘use it or lose it’ housing drive which also aims to ‘unblock’ 180,000 stalled consents.
Other proposals include allowing councils to borrow more for house building and encouraging pension funds to build rental housing in the capital. A London Rental Standard is also planned to protect young people unable to get on the housing ladder.
Johnson also repeated demands to claw back £1 billion in stamp duty from the Treasury to create a new fund to help leverage private investment in housebuilding in the capital.
Announcing the vision, Johnson said: ‘[My] goal is to lengthen London’s lead as the greatest city on earth. To succeed we must recognise the test of our mettle that lies ahead, not least a million more people in the next decade and a vast shortage of homes in an uncompromising global economy.
‘This shows us why the government must invest in London’s future for the good of the whole of the UK and exactly why we must continue to attract international investment.
‘I want this vision to be one which sparks the imagination of every Londoner as well as business leaders and government officials. This is everyone’s city and all of our futures.’
Read the full document
London’s 2020 Vision: Key architecture and infrastructure projects
Redevelopment of King’s Cross area
Rejuventate White City
Boost Tech City
Encourage more house building
Deliver Northern Line upgrade
Expand the housing covenant
Transform the Royal Docks
Create Med City
Lower planning decision thresholds
Update the London Plan
Start ‘VNEB’ Northern Line extension
Identify capital landholdings
Adopt new property tax proposals
Agree housing settlement for London
Improve the roads
Create new transport links
Build more affordable homes for workers
Extend the tram network
Upgrade for London Bridge and Borough area
Devolve stamp duty
Four track the West Anglia line
Form a London housing bank
Assist King’s College in expanding to Canada Water
Make Overground improvements
Remove cap on Local Authorities’ borrowing power
Install addition Crossrail stations
Create villages in Earls Court
Deliver tube upgrade
Begin Crossrail 2
Deliver 75 per cent automation on the tube system
Build London’s hub airport
Convert Greenwich power station
Develop Upper Lea Valley
Reduce risk of flooding
Reshape Vauxhall, Battersea and Nine Elms
Transform Lower Lea Valley and Stratford
Rejuvenate Elephant and Castle
Stengthen energy infrastructure
New river crossings
Rebuild Bank and Holborn underground stations
Open Silvertown Tunnel
Redevelop Tottenham Hale, East Croydon and Waterloo stations
Construct an interchange station for King’s Cross, St Pancras and Euston
Construct new Thameslink station at Cricklewood
Build new Dartford river crossing
Restyle Park Royal
Reinvigorate Brent Cross and Cricklewood
Crossrail 2 at Euston and Kings Cross-St Pancras
High Speed 2 opens