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London First responds to Mayoral Concordat on new homes for Londoners

London First welcomes and wholly endorses the principles behind the Mayoral Concordat being announced today.

As we recognised in our recent report, Home Truths, which set out 12 steps for solving London’s housing crisis, there is a desperate shortage of homes in the Capital. We need to pull out all the stops to get as many good quality developments as possible up and running in London.

Let’s not forget that overseas buyers are an important part of the London property market – many off-plan buyers play a critical role in helping developers fund the early stages of development. But there needs to be a level playing field. People in the UK should never be prevented from accessing property that comes onto the market.

For many of our members, giving UK buyers the same chance to buy as anyone else is business as usual.  They are already doing this, which is why they welcome, and have so readily put their names to, the Mayor’s concordat.

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