More London housing zones to provide additional housing

More London housing zones to provide additional housing

The mayor of London, Boris Johnson, has announced a wave of new housing zones in the capital that will help to accelerate the process of bringing more affordable homes to the market in the rapidly expanding city. 

The new zones in the boroughs of Havering, Enfield, Redbridge and Tower Hamlets were all hailed as being vital by the mayor, who said that combined they will provide more than 12,000 homes for the capital over the course of the next few years. 

Of the 12,000 homes to be built, Mr Johnson also added that some 3,500 will be affordable, helping young first-time buyers in particular get themselves onto the housing ladder for the first time. 

This latest announcement now means that there are some 15 housing zones in place across London designed to increase supply. In total, they will provide just over 45,000 homes to the market. Approximately a third of these of these new houses will be affordable as well. 

Mr Johnson said: "Housing Zones will provide the swift delivery of new homes for Londoners that is so desperately needed and create entirely new, highly connected urban districts for generations to come.

"By freeing up empty brownfield sites from lengthy approval processes and providing a funding boost, we can ensure new housing capacity is created in areas where it might never otherwise have happened," he added, saying that he is proud of the fact the housing project as a whole is now within touching distance of being able to provide 50,000 homes for the sector - the original target. 

For the newest announced parts of the project, Mr Johnson said that some £162 million in funding will be contributed as he looks to continue to streamline approval processes and fast track development in areas where it may not otherwise happen.