Affordable Housing (London)

Debate between Chris Philp and Mark Field

Wednesday 9th September 2015 Westminster Hall

[Chris Philp]

It is good that Hackney is a desirable place. Figures produced by Knight Frank suggest that 93% of new build stock in outer London and 80% in inner London is sold to UK residents. Savills estimates that in 93% of all transactions across London, the property, whether new or second-hand, goes to people who live here, so it is possible to overstate things. In 93% of property transactions, the property goes to Londoners.

I am delighted to report that vacancy rates in London under this Government have dropped dramatically. Long-term vacancy—vacancies for longer than six months—stood at 34,000 units in 2010; that has dropped to 20,000 units, which is a reduction of 41%. That is good progress achieved under this Government.

[Mark Field (Cities of London and Westminster) (Con)]

May I suggest to my hon. Friend that the rather self-serving evidence from Knight Frank and Savills not be given too much credence? There are important points that all of us in London, across the political divide, feel strongly about, and making the debate rabidly party political is unhelpful, not only for London MPs, but for all those we represent.

[Chris Philp]

It is certainly not my intention to make the debate rabidly party political—I am not sure that I have been called “rabid” before, but I thank my right hon. Friend for introducing the adjective. I want this to be a non-partisan and constructive discussion about London’s housing. I hope there are things that we can agree on during the debate.