Nick Millican has been at the top of the London real estate sector for three decades. The London real estate sector has grown as thousands of businesses and people arrive in the U.K. capital each year.
Nick Millican says there´s more on this. The U.K. Chancellor Jeremy Hunt has been criticized in some quarters for a lack of focus on London’s housing crisis. The Chancellor did remove some red tape for planning and addressed concerns for renters in Northern England.
However, Nick Millican is concerned that London’s rents have risen by 31 percent over the last two years to add to the ongoing housing crisis. The London Mayor, Sadiq Khan, worked with The Greater London Authority to create a plan for adding to London’s range of affordable housing.
The aim of the latest affordable housing plan was to provide 52,000 affordable new houses but will fall short by 15,000. Nick Millican comments how London politicians believe the shortfall will lead to more than a quarter of a million residents struggling to find decent affordable housing by 2028.
Nick Millican agrees with Deputy London Mayor, Tom Copley, in his assessment that Chancellor Hunt missed the opportunity to provide respite for London’s renters and first-time homebuyers. The University of Oxford graduate agrees that London’s services will be stretched if affordable housing is not a priority. The NHS will be among the services struggling as unsafe rentals flood the London market without the Government’s intervention.