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Homes for London (HfL) Board Date of meeting: 15 May 2013 Title of paper: London Strategic Housing Market Assessment To be presented by: Alan Benson Cleared by: Jamie Ratcliff, Assistant Director - Programme Policy and Services Richard Blakeway, Deputy Mayor for Housing, Land & Property Classification Public 1 Purpose of this paper 1.1 To update the Homes for London (HfL) Board on the GLA’s plans for a new London Strategic Housing Market Assessment. 2 Recommendation 2.1 That the Board notes the contents of the report. 3 Key information / issues arising 3.1 The Mayor intends to launch a new alteration of his London Plan in early 2014, centred around a review of the Plan’s housing policies and targets. In order to update the evidence base for the Plan and to comply with the requirements of the National Planning Policy Framework, the GLA intends to produce by end 2013 a new Strategic Housing Market Assessment (SHMA), which will provide estimates of London’s future housing requirements. 3.2 To provide evidence of future housing capacity the GLA will also produce a new Strategic Housing Land Availability Assessment (SHLAA), which is the subject of a separate paper to this meeting. 3.3 GLA officers are developing the methodology for the new SHMA, and as with the SHLAA will work with a steering group of stakeholders including London boroughs to produce the final report. The new SHMA will provide results at London-level only, with boroughs continuing with sub-regional or local SHMAs as appropriate. 4 Relevant background information 4.1 The 2008 London Strategic Housing Market Assessment, published in April 2009, estimated London’s annual housing requirement to be around 34,900 new homes a year, most of them affordable. 4.2 Since publication of the last SHMA, the available evidence suggests that London’s housing requirements have increased further. The 2011 Census revealed that London’s population had grown faster than previously thought, while recent DCLG household projections suggest that potential household growth has also risen sharply. Finally, data on overcrowding indicates that the backlog of unmet housing need in London has also grown. The Mayor drew on evidence of rising housing requirements in his speech to the Chartered Institute of Housing in February, suggesting that London would need to build at least 40,000 new homes a year. 5 Risks arising / mitigation 5.1 There are no specific risks associated with this item. 6 Financial comments from the Executive Director Resources 6.1 This item has no direct financial implications for the GLA. 7 Next steps / conclusion 7.1 The GLA will report progress to HfL on a regular basis.