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Fifty Thousand Homes

London is one of the world’s leading cities, giving the UK a place on the global stage and acting as a gateway to investment across the country.

But the capital has a serious housing shortage that is starting to limit its competitiveness.

Fifty Thousand Homes infographic image

Substantial increases in house prices and rental costs mean people from all walks of life are struggling to find accommodation.

London First initiated a business-led campaign, Fifty Thousand Homes, to double housebuilding in London to at least 50,000 homes a year by the end of the next Mayoralty in 2020, in order to protect and enhance the capital’s competitiveness as a global city.

The campaign was set up with the support of CBI London, FSB London, Shelter and others.

Read more about the launch of the campaign

London’s success is built on attracting talent – both home-grown and from across the world. The business community is becoming increasingly concerned that a growing number of talented people across all levels of income are being forced away, or put off coming to the capital in the first place.

We need to build at least 50,000 homes a year to sustain a population that is growing by a million people a decade. New homes of all types are needed, particularly homes that most Londoners can afford. However, we are currently building at half that rate.

The business community welcomes the focus that candidates for the 2016 Mayoral elections have placed on increased housebuilding. But as London elects a new Mayor we need to hear more than aspirations.

We need determined political leadership, credible plans and, above all, strong action that will deliver at least 50,000 new homes a year by 2020.

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Contact Naomi Smith for further information

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