The Greater London Authority are considering dropping the affordable housing requirement to 20% in a bid to increase more building, according to reports.<\/p>\n
Currently there is a 35% requirement, and developers are complaining it\u2019s making schemes unviable.<\/p>\n
GTA data shows that the building rate in the capital is falling despite the government\u2019s lofty housebuilding targets.<\/p>\n
Daniel Austin, chief executive and co-founder at ASK Partners,\u00a0said: \u201cDevelopers are stifled by red tape and overbearing regulation which have increased construction costs to the point of killing the viability of schemes. This is hitting the supply of both private and social housing of which we are in urgent need.<\/p>\n
\u201cThe current 35% affordable housing requirement has proven unworkable; in many cases paying the penalty not to deliver affordable housing is more economic than meeting the 35% allocation. Should the Mayor of London decide to reduce the quota to 20%, as widely expected, this would be a welcome move to improve the economics of development and boost the supply of much-needed affordable homes.<\/p>\n
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\u201cLondon cannot continue with complex planning rules, excessive levies, and arbitrary design constraints that make projects unviable.\u201d<\/p>\n
The UK government is set to introduce digital ID cards to curb illegal immigration, requiring employers to verify workers\u2019 status.<\/p>\n
But Austin warned: \u201cThe Government\u2019s tightening of immigration rules risks deepening the crisis at precisely the wrong moment.<\/p>\n
\u201cThe construction sector is already under immense pressure, from spiralling build costs and planning bottlenecks to the impact of regulatory changes like the Building Safety Act.<\/p>\n
\u201cLimiting access to skilled foreign workers will only compound the problem. Capital Economics has estimated that an additional 500,000 workers are needed if we are to hit the government\u2019s own housing targets.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Greater London Authority are considering dropping the affordable housing requirement to 20% in a bid to increase more building, according to reports. Currently there is a 35% requirement, and developers are complaining it\u2019s making schemes unviable. GTA data shows that the building rate in the capital is falling despite the government\u2019s lofty housebuilding targets. […]<\/p>\n","protected":false},"author":1,"featured_media":4151,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n