Leading figures from the homebuilding and property industries have urged the Government to give its firm backing to Crossrail 2 which will help provide a key boost in tackling London’s housing shortage.
66 homebuilding and property industry leaders, including Taylor Wimpey, British Land and all of the g15, London’s largest housing associations, have written to the Chancellor, Transport Secretary and Communities Secretary to show how vital Crossrail 2 is to unlock new, good-quality homes and commercial space.
The industry leaders say the new railway would transform transport capacity and connectivity for underdeveloped areas of the capital, such as the Upper Lea Valley. This will give housebuilders the certainty they need to accelerate the development of up to 200,000 new homes urgently needed to help address the housing shortage across London and the South East.
Crossrail 2 also has the backing of London Mayor Sadiq Khan who said: “It’s no secret that London and the South East need new homes, and the government can clearly show its long-term commitment to tackling the housing crisis by backing Crossrail 2. 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.”
It is believed that the benefits will be felt right across the South East with 30% of the new homes delivered outside London, supporting regional growth corridors between Cambridge and Stansted, and south west towards Portsmouth.
The signatories have urged the Government to give the green light to the scheme without delay, so they can seize the opportunities to develop housing and commercial space in areas opened up by improved transport capacity.
Tony Pidgley CBE, Chairman, Berkeley Group, said: “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. 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.”
Melanie Leech, Chief Executive of the British Property Federation, said: “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.”
You can see the proposed route of Crossrail 2 here.
