London needs homes, not ‘investments’

As the latest House Price Index reveals an annual increase of 19.6% in the cost of London homes, the MIPIM property fair rolls into the capital tomorrow. MIPIM is a forum focused on international investment in housing, which brings together tens of thousands of investors, property developers, politicians and landlords to discuss how best to make huge amounts of money from housing in cities across the world.

When property is treated as an investment to maximise profit, and not as places to live, everyone loses out. Private renters are squeezed by huge rents, whilst those on social housing lists are left to wait for years on end. Much of London is already hugely unaffordable for the people who live in it, and the cost of housing is central to this. To see MIPIM take place in London for the first time only emphasises the crisis.

The Radical Housing Network has organised a series of actions to protest against the fair, including an opening demonstration at the London Olympia from 9am on Wednesday 15th October, followed by an alternative housing conference – ‘Cities For People, Not for Profit’ – on the 16-17th October, ending with further action at the close of the conference.

Full details of all the week’s action can be found here, including a session on private renters’ movements on Friday, with speakers from groups across the UK and Europe.

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