New housing plans revealed by Ken Livingstone

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by Kay Murchie

Ken Livingstone, the Mayor of London, has revealed plans to build 50,000 more affordable homes in London over the next 4 years.

The Mayor said that the new homes make up a 50% increase in the number of affordable homes being built in the capital and that they will deal with environmental concerns.

Additional proposals aim to explore the possibility of raising the target of building 30,500 new homes in London each year, with the Mayor concentrating on the aim to guarantee that 50% of the properties should be reasonably priced.

The Mayor commented that London is in desperate need for affordable homes. Last month, research from the Halifax showed that the average price of a home in the capital exceeds £300,000 with property prices rising.