London is on the brink of a significant housing crisis with a £32 billion funding gap for new homes, while homelessness is rising for the first time in more than six years and the average first-time-buyer’s deposit now costs £56,000.
That is the grim analysis of the body, which represents the capital’s 33 councils. In a document that is likely to be signed off next week, it argues that welfare reforms could be about to make the situation worse.
The fears are laid out in a policy document by London Councils, the umbrella body for the local authorities, which warns: “London is moving towards a significant housing funding crisis, which will further undermine attempts to deliver and increase the new housing supply (and improve existing