LREF: City Hall is focusing on land assembly to boost housing supply and development, particularly for the rental market, said David Lunts, executive director of housing and land at the GLA.
“We are increasingly turning our attention at City Hall to the issue of trying to assemble land that we can help through the planning system and into development,” he said.
“A lot of the evidence suggests we need to be a little more proactive in getting those forward.”
Lunts said that the key barrier to rental development was not finance but a clean pipeline of development land.
“That’s the sort of space you might start to the see the GLA get involved in,” he said, though he did add that it was not exclusively for the rental market.
He also said the GLA was still working on making development viable for rental operators.
“We acknowledge we have to turn attention to try and level the playing field so that this wall of capital can compete in the land markets against traditional builders.”
But on a note of caution, he added: “Having said what I just said, we think it can add to supply. We need to see BTR increasing overall stock being built in London.”
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