Industry experts believe Crossrail 2 will help solve London’s housing crisis
Industry leaders in the property and housebuilding sectors, including British Land and the Berkeley Group, are calling on the government to back the next phase of Crossrail in an effort to help tackle London’s housing crisis.
Over 60 professionals have written to the chancellor, Philip Hammond, urging him to support the project which they believe will deliver 200,000 homes across London and the South East, and transform transport capacity and connectivity for underdeveloped areas of the capital.
“Crossrail 2 is a fantastic opportunity to improve London and the South East’s infrastructure, and will help us build the homes this region desperately needs” said Tony Pidgley CBE, chairman of the Berkeley Group.
He added: “It will unlock areas of huge potential, such as the Upper Lea Valley, and we will look to these areas to meet the demand for housing. Crossrail 2 is the only scheme that can make a significant difference to the South East’s housing stock and the Government must not delay.”
Industry professionals believe the benefits of the project will be felt right across the South East with 30% of new homes being built outside London, supporting regional growth corridors between Cambridge and Stanstead, and the South West to Portsmouth.
Chief executive of the British Property Federation, Melanie Leech, commented: “Crossrail 2 will stimulate regeneration up and down its route from the Solent to the Wash, opening sites for new housing and employment.
“A swift decision from government on Crossrail 2 would provide a vote of confidence for our industry as we support most, if not all, UK economic activity, through our provision of homes, offices and commercial space.”
London and the South East need new homes and mayor of London, Sadiq Khan, believes the government can show their commitment to tacking this by backing Crossrail 2.
He said: “Key homebuilding and property leaders are clear that this vital project will unlock areas across the region and bring up to 200,000 new homes where they are desperately needed. It’s time for the government to take note of the huge transport, economic and housing benefits, and give us the go ahead to progress.”
Full article available on PropertyInvestorTODAY: https://www.propertyinvestortoday.co.uk/breaking-news/2017/4/crossrail-2-vital-to-tackling-londons-housing-crisis-say-experts