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Affordable capital? Housing in London

business and industry, communities, equality, housing, personal finances, welfare

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Author(s):  Matt Griffith, Phil McCarvill, Declan Gaffney
Published date:  07 May 2012
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London is an expensive place to have a home. It faces unique challenges that combine to produce an increasingly unaffordable market for would-be owners and tenants alike. In particular, the government's welfare reforms will have a significant impact on the ability of London's citizens to buy or rent a decent home.

This case study report makes a series of policy recommendations aimed at reducing the worst effects of London's housing squeeze. These recommendations include:

  • increasing the supply of housing, for example by releasing more public land for development
  • improving the effectiveness of welfare reforms, including a short-term uplift in the housing allowance cap and a longer term move to devolve housing powers and responsibilities to the mayor
  • achieving reasonable regulation in the private rented sector, including exploring maximum base rents and forming a rent stabilisation body
  • increasing taxation of foreign buyers of prime London property by pressing ahead with various tax changes currently under consultation.

 

 
 

Our people

Phil McCarvill, Associate Fellow

Matt Griffith, Associate Fellow

 

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