Mayor Boris Johnson says “Sell properties to Londoners first
The mayor of London wants new homes being built in London to be offered for sale to Londoners first and is asking developers to join him in a new deal or concordat. At the annual MIPIM property conference in Cannes, France, the Mayor said he wants developers and inverstors to help him double house building, including provision for more affordable homes, and low cost homes for Londoners, and to fund major regeneration projects around the capital. The Mayoral Concordat is already supported by the Major Developer Group, London First, London Chamber of Commerce and the Home Builders Federation and signed by 50 big and small developers in London.
The Mayor is now urging all developers and international investors to get on board. He is also writing to key developers across the UK, asking them to sign up to commit to selling new homes on every development to Londoners before, or at the same time as they are available to overseas buyers. This will help ease the unprecedented demand for housing in the capital and help Londoners into home ownership. ‘New housing developments are a vital part of the infrastructure of a living and dynamic city