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Housing was the most important issue of the mayoral race (ComRes/BBC London poll, 2016). It appeared to represent a shift in sentiment from the 2012 election. While not directly comparable, a survey at that time placed housing fourth after jobs, crime and transport.
This is perhaps not surprising. During Boris Johnson’s second term of office, nominal house prices in Greater London are forecast to have risen by 56%, vastly outpacing earnings (Nationwide, BNP Paribas Real Estate). When translated to a monetary figure, the reality is illustrated starkly – whilst house prices rose by £170,000, the average Londoner’s income is estimated to have increased by less than £10,000 over the same period.
This sentiment was inevitably reflected in the manifestos of the candidates. All but one of the aspiring mayors representing the major parties have placed housing as their first priority, with barely a page turned in any of the manifestos without coming across a reference to housing.
Source : BNP Paribas Real Estate
