Sadiq Khan
-
Latest property news
Newsflash: Sadiq Khan to bring in longer tenancy agreements for Londoners
Mayor of London Sadiq Khan is to tackle London’s housing crisis with a ‘new deal’ for renters including longer tenancies called the ‘London Model of renting’, it has been announced. The initiative, which will be part of the Mayor’s new Housing Strategy, will see tenants and landlords brought together to create the new concep. This is likely to include longer tenancies to create a more “stable, family-friendly sector” and see an end to six and 12-month Assured Shorthold Tenancy agreements that currently dominate the sector. A statement released today says that: “the Mayor wants a better deal for the increasing numbers of Londoners who live in the private rented sector, with the aim of creating a modern, fit-for-purpose and high quality housing option for the millions of Londoners who rent…where the legitimate rights of landlords are protected too”. Tenancy agreements Figures quoted by Khan’s office reveal that a quarter of all Londoners live in the private rented sector, and increase of 200% since 2004, and that the current legal framework for tenancies were introduced almost 30 years ago. Khan says that with a standard tenancy length of just six to 12 months, renters face high rents and little guarantee of…
Read More » -
Latest property news
As Article 50 trigger looms, RICS says a hard Brexit will damage property sector
The Royal Institution of Chartered Surveyors says a hard Brexit may lead to 176,500 EU member state construction workers being forced to leave the UK, or 8% of the total building industry workforce. As the government prepares to trigger Article 50 and steer the UK towards an exit from the European Union, RICS argues that for Brexit to succeed “it is essential to secure access to the EU Single Market or put alternative plans in place to safeguard the property and construction sector”. Research by RICS also revealed that 30% of the construction professional it surveyed believe hiring non-UK workers was important to the success of their business. “Unless access to the single market is secured or alternative plans are put in place, we won’t be able to create the infrastructure needed to enable our cities to compete on a global stage,” says Jeremy Blackburn, Head of Policy at RICS (pictured). “We have said before that this is a potential stumbling block for the Government, which is working to deliver both its Housing White Paper and Industrial Strategy.” A recent report by Mayor of London Sadiq Khan shows that a significant majority of these EU construction workers are based in…
Read More » -
Latest property news
London Rental Standard faces Khan ‘review’
Boris Johnson’s flagship London Rental Standard (LRS) scheme has a less certain future after Sadiq Khan’s team confirmed to The Negotiator that it is now ‘under review’ with a decision on its future likely ‘very soon’. The LRS is already on shaky ground. Soon after coming to office Khan released papers revealing that City Hall officials warned Boris Johnson back in 2013 that the scheme’s target to sign up 100,000 landlords was “unrealistic and unachievable”. Launched in May 2014 it is supposed to enable tenants to ‘rent with confidence’ and give landlords ‘peace of mind’ and has the strong support of the industry including the Association of Residential Letting Agents, whose parent organisation NFoPP runs the accreditation programme for ARLA agents wanting to join. The LRS originally brought seven landlord accreditation schemes across London under one roof but was a voluntary scheme for letting agents and so far, only 338 have signed up to it via their membership of either ARLA, the National Approved Letting Scheme or the UK Association of Letting Agents. It’s invisible on the main portals and for example Zoopla doesn’t use the logo on the details pages for LRS members such as Foxtons, and agents are left to…
Read More » -
Features
Promises and projections
Boris is gone and the new Mayor of London, Sadiq Khan, has some very different housing policies. Andrea Kirkby discusses the likelihood of him succeeding where others have failed.
Read More » -
Land & New Homes
London Mayor’s Housing policy
Sadiq Khan, the new London Mayor, says that his biggest priority is to build thousands more homes every year. “Our capital needs more than 50,000 new homes a year – yet Boris Johnson built barely half that number.” He also vows to create a living rent and improve the private rented sector in the Capital. This sounds good, most property professionals would agree… but is it possible? Miles Gibson, Head of UK Research, CBRE UK said, There are key areas, specifically housing planning, investment in infrastructure and ensuring London’s placemaking continues to be world class, which must be capitalised upon if it is to prove a successful term in office. “To date there has been little detail on how the new Mayor’s manifesto will be funded, in particular the infrastructure investment and proposed surface transport improvements. It’s the detail behind these numbers which is most eagerly anticipated by the property industry.” Adam Challis, Head of JLL Residential Research, said, “Sadiq Khan has said he will introduce a 50 per cent affordable housing target for new developments, and use mayoral planning powers to stop ‘buy-to-leave.’ He also vowed to stop homes being sold off in advance to foreign investors. In reality,…
Read More »
