Commissioned in Autumn 2016, the final report of the London Mayor’s investigation into the role of overseas investment in housing was published last week – but its findings can be read in very different ways.
Based on research by the LSE, its major conclusion and argument is that off-plan and pre-sales to the overseas market are integral to the current development model in London – and therefore also key to leveraging more affordable housing through section 106 agreements on those sites.Read more
This week Trust for London, in conjunction with Loughborough University, published their latest report on a Minimum Income Standard (MIS) for London - with figures updated from their first report in 2015, and with a focus in this research on families.
The MIS compares costs between London and the rest of the UK to show the difference between the minimum needed for an acceptable standard of living - with that minimum based on a list of goods discussed and agreed upon by the public.
We can draw many conclusions from the report, and though it should surprise no one that the cost of housing is a major differential between London and the rest of the UK, the research shows that the rising cost of private rents in the lower end of the market stops a large number of households achieving the MIS.Read more
For many years, debates around housing supply have suggested that a model needs to be worked up that leverages investment into building new long-term, professionally managed privately rented accommodation, as is much more normal in other countries around the world.
Generation Rent has always argued that new supply will only help a small percentage of lucky renters, and that the priority should be to support legislative reform that would improve things for the over two million London renters in existing stock.Read more
Figures produced by the End Child Poverty Coalition this week show distressing levels of child poverty after housing costs are included, including within much of London.
The data breaks down levels of child poverty by parliamentary constituency, local authority, and local ward level, and shows that of the twenty constituencies with the highest levels of child poverty, seven are in London, while 11 out of 20 of the highest figures at local authority level are also in the capital.Read more
In September, following the Mayor’s release of some details for this London Living Rent proposal, we blogged about concerns around how genuinely affordable this new tenure would be, and what was needed to ensure it was part of the solution to London’s housing crisis.
This follow-up piece looks at what wasn’t covered in the first blog – broadly, tenancy types – and how again they might best serve Londoners just looking for somewhere affordable and secure to live.Read more
During his recent visit to New York City, the Mayor of London took the opportunity to announce one of his key pre-election pledges for the private rented sector, the London Living Rent.
Doing so while overseas was both surprising and interesting and his visit to New York highlighted the challenges facing the Mayors of both cities.Read more
Today Generation Rent publishes 'London's Turning: Towards a sustainable private rented sector under the new Mayor', our call on Sadiq Khan to act rapidly and boldly in his response to the capital's housing crisis.Read more
Today we have called on the Mayor of London to adopt a set of policies that will speed up his efforts to end the capital’s housing crisis.
To remind him what’s at stake, we have uncovered another startling trend that is hurting the city and its people.
Every year the Office for National Statistics releases figures on internal migration – how many people move from one part of the UK to another – and people are moving out of London at an alarming rate.