Home Group boss backs Boris' plans for housing bank
Published by Brian Church for 24dash.com in Housing and also in Finance
Home Group chief executive Mark Henderson has welcomed London Mayor Boris Johnson's plan to create a housing investment bank. This could see up to £200 million made available to housebuilders with the aim of increasing the supply of affordable homes in the capital.
"We’ve long argued for the establishment of housing investment banks alongside our idea of housing enterprise zones," Henderson said. "Housing construction is good for the economy. For every £1 spent on construction there is a ripple effect of £2.84 for the wider economy."
Henderson has been lobbying central government and the mayor’s office to adopt a strategy which would provide low cost loans to affordable housing providers and developers to kickstart construction.
Henderson noted that his group had discussed how to get London building with deputy mayor Richard Blakeway when he officially launched Home's joint development with Lovell in Lymington Fields.
"We look forward to working with Mr Blakeway and his office and sharing our thoughts on how innovative finance solutions can help tackle the housing shortage capital in the capital," Henderson said.
The London Housing Bank could see up to £200m made available to large scale developers to build up to 3,000 homes which would then be made available to those wishing to rent at less than market rate.