Boris Johnson announced new homes plan changes

11 2008
London mayor Boris Johnson has dealt a blow to the home-owning ambitions of thousands with the announcement that he will not be going ahead with his predecessor's plans for affordable home construction.

Prior to leaving office Ken Livingstone had pledged to increase the number of homes aimed at first-time buyers being built annually by 50 per cent, an initiative welcomed by many currently struggling to get a foot onto the property ladder.

However, now Mr Johnson has revealed that he believes such plans to be too "unwieldy", confirming that he will work with developers to come up with new proposals.

"I want to see a slimmer plan, which deals with genuinely strategic issues, but this won’t be at the expense of London’s need for more homes and economic success."

This means that demand for rental property, currently at a near-record high, is likely to remain strong for the foreseeable future. ADNFCR-1219-ID-18680976-ADNFCR

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