Thousands of new homes to be built in London

Posted: 16 Jun 2014 16:56:27 GMT


            Property News - Thousands of new homes to be built in London

Thousands of new homes are to be built across the capital in the coming years.

Chancellor of the Exchequer George Osborne has announced in partnership with London Mayor Boris Johnson that up to 50,000 new homes are to be built across the capital in the coming years.

A total of 20 new housing zones across the Greater London area will be created in the coming months, with both the government and the Greater London Authority investing £200 million each into the project.

It is aimed at addressing the ongoing shortage of suitable residential properties for buyers across the capital and not only with the scheme provide additional housing for the capital's burgeoning population, but also new schools, libraries and commercial spaces.

Mr Osborne stated: "The new housing zones will be a shot in the arm for house building in London, creating tens of thousands of new homes for hardworking families across the capital."

His sentiment was echoed by Mr Johnson, who added addressing the capital's growing housing need is one of the biggest challenges facing the city at present.

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