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News Release

London

Eric Pickles latest housing announcement is good news for London

Say Jones Lang LaSalle in response to £3bn of government funding provision for London housing


London, 8th February 2012 – Jones Lang LaSalle responds to the announcement made today by Eric Pickles stating £3bn of government funding will be provided for housing and regeneration projects in London.
 
Jon Neale, Residential Research Director commented on the announcement that: “This is good news for London and reinforces the government’s commitment to giving cities and neighbourhoods greater control over where housing and regeneration funds are spent.
 
“London has some of the most severe affordability and housing undersupply issues in the country and resolving these are crucial to its continued role as the engine room of the British economy.
 
“However, as with all public funding, this is less than was available in the previous three-year period. The Greater London Authority will have to make difficult decisions given the more constrained funding environment – in terms of which schemes or projects should be prioritised. It also underlines the need to find radical new approaches to affordable housing delivery and regeneration, particularly with regard to levering in more private sector funding.”