EG Question Time: Industry leaders at EG’s London Question Time agreed that there was more pressure than ever to provide affordable homes to accommodate London’s growing population and attract top talent.
With current delivery rates of 30,000 homes a year falling short of the 50,000 mayoral target, panellists acknowledged the urgent need to maximise provision by considering previously overlooked areas.
“We have to start innovating,” said Richard Cook, head of residential at Lend Lease, at the event hosted at Land Securities’ recently completed New Ludgate, EC4, scheme.
“We have to look at the communities which we build in and listen to people. You can’t have any one silver bullet but there are lots of good initiatives coming through. The political consensus is that there is a need for housing and we need to turn that into real leadership through central and local government and the GLA.
“As developers we need economic stability. If we have all our ducks in a row, there is a good chance of meeting that target going forward.”
Kaela Fenn-Smith, head of leasing at Land Securities, added that infrastructure needed to happen at a faster pace.
And Bobby Hashemi, founder of Pizza Union and Coffee Republic, warned that a lack of affordable housing would also have a detrimental effect on restaurants and retail, saying the idea of a London restaurant-based business with staff living outside the M25 was “pushing it”.
The event was sponsored by Savills, Mills & Reeve and Conveyancing Risk Solutions.
