Live from City Hall: planning and housing committee

It meets today from 10.00, Nicky Gavron AM in the chair. The excitement lies in Item 5: The Implications of the Credit Crunch on the Delivery of Affordable Housing in London. Gulp. A skim of the relevant report (pdf) reveals that first time buyers presently need a deposit of £32,500 to buy a "typical entry level property", costing around £250,000. That may fall, of course, but so might housing supply. Ken Livingstone's last target for building new homes was 30,500 per year, and he reckoned this was achievable. That looks a bit unlikely now. And what price Mayor Johnson's aim of having 50,000 new "affordable" homes built by 2011? A galaxy of housing policy stars will scratch their heads.