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Will London Ever Get Affordable Housing?

Mayor Sadiq Khan has a dream to prove everyone wrong, but his task is only getting harder.
Residential properties in London.

Photographer: Simon Dawson/Bloomberg

The Mayor of London says enough homes can be built over the next decade to solve a housing shortage that’s driven prices beyond the means of average Londoners. Signs the property boom is ending may make his ambitious goals harder to reach.

Sadiq Khan, whose victory in 2016 was built on a pledge to fix the U.K. capital’s broken housing market, is calling for 65,000 new homes a year, with half affordable for moderate earners. But his effort depends on developers, who are leery about the outlook for prices after delivering 39,560 housing units last year, the most in more than a decade.