Labour and materials shortages and planning delays force Mayor of London to revise down forecast
The Greater London Authority (GLA) has halved its projected housing starts on its own land over the next two years due to construction market ‘turbulence’.
The GLA’s latest housing delivery report projects a total of 3,500 starts on land owned by its bodies in 2021/22 and 2022/23, down from the 5,261 projected in its June report and the 7,311 projected for the same period it forecast in March.
The figures mean the mayoral body has halved its forecast number of new homes on GLA-owned land inside the space of six months.
A spokesperson for the GLA said: “These ‘risk-adjusted figures’ are a pragmatic reflection of the recent turbulence in the construction market, particularly with regard to labour and material supply availability, together with some planning delays. “
He added: “It’s hoped we’ll exceed these figures.”
The reduction means the total forecast homes on GLA land for the seven years from 2016 to 2013 falls 20% from 19,311 to 15,454.
Sadiq Khan yesterday announced a review of mayoral bodies’ housing delivery as he seeks to fulfil a manifesto pledge to boost the number of homes built on Greater London Authority-owned land.
The revised forecasts
2 March 2021
15 June 2021
8 September 2021
Source: Housing delivery reports, Homes for Londoners board papers
GLA bodies include Transport for London (TfL), the Mayor’s Office for Policing and Crime, the Old Oak and Park Royal Development Corporation, the London Fire Commissioner and the London Legacy Development Corporation.