London skyline photographed at night. The lights from the high buildings reflect on the Thames

RICS CEO Justin Young comments on Homes for London announcement

23 October 2025

“The subdued state of housebuilding in London is routinely reported in the RICS UK Construction survey each quarter. This impacts house and rental prices as reflected in the institution’s monthly Residential Survey. The Government and the Mayor’s Office package announced today should help propel housebuilding forward.

“Whilst RICS supports the creation of affordable housing, it is clear that the 50% target in projects is not working. Revising the target provision to 20% to receive Community Infrastructure Levy (CIL) relief should help move the industry forward, increasing potential profitability and confidence amongst housebuilders.

“Getting rid of late-stage viability assessments where housebuilders commit to 20 per cent affordable housing will soften a barrier to equity investment.

“Developing the call-in powers of the Mayor are also welcome. The Mayor will have the ability to get projects moving, even in local authorities where they have been delayed indefinitely.

“A City Hall Developer Investment Fund, with an initial allocation of £322m of grant investment is a powerful resource and makes it clear that this government is serious about getting London housebuilding moving again.

“RICS would add that increased resources for the Building Safety Regulator (BSR) are crucial if it is to tackle the growing backlog of projects. Getting decisions quicker and removing overregulation will improve confidence amongst developers and cost planners, meaning the new homes people need are built.”

-ENDS-

About RICS

We are RICS. Everything we do is designed to effect positive change in the built and natural environments. Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure.

Our work with others provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.

For more information:

khicks@rics.org

Kris Hicks

Global Media Officer @ RICS

press@rics.org

You may also be interested in

RICS Joins Peak Construction Bodies in Canberra

RICS was pleased to take part in the Australian Construction Industry Forum (ACIF) November 2025 meeting in Parliament House this week.

Budget 2025: RICS priorities to government – and impact to renters

RICS is outlining the key measures we believe are essential to unlock growth, improve resilience and support sustainable investment across the built and natural environment.

EAC recommends RICS WLCA amid push to deliver 1.5 million homes

The Royal Institution of Chartered Surveyors (RICS) today welcomed the Environmental Audit Committee’s Environmental Sustainability and Housing Growth report.

Australia: RICS releases updated Red Book Australia National Supplement

RICS has today released the updated edition of the RICS Valuation – Global Standards: Australia National Supplement (commonly known as the Red Book Australia National Supplement), providing essential information for RICS valuation members working within Australian jurisdictions.

RICS welcomes the introduction of Awaab’s Law

The law mandates that social landlords must investigate and act promptly on health and safety hazards, including damp and mould, reported in their properties.

RICS position on the Future of Affordable Housing in Europe

As part of the European Commission’s ongoing work on the Affordable Housing Plan, our position paper, developed with the contribution of over 20 European members, outlines actionable recommendations to ensure housing is both accessible and sustainable.

RICS at the 2025 UK Party Political Conferences

Each year, the UK’s party-political conferences give RICS a valuable platform to champion our profession and the impact of the built and natural environment.

New Towns at RICS – Planning & Development Conference 2025

Hot on the heels of the New Towns Task Force’s selection of its preferred locations, the RICS Planning & Development Conference chaired by Faraz Baber (Lanpro and Land & Natural Resources PGP) took place at Great George Street on 7th October 2025.

Subdued momentum persists in UK housing market amidst Autumn Budget uncertainty

The latest RICS UK Residential Market Survey reveals that subdued momentum continued to characterise the housing market in September.

RICS responds to major changes in home buying and selling

The Royal Institution of Chartered Surveyors (RICS) welcomes today’s announcement that the UK Government will launch a consultation on wide-ranging reforms to the home buying and selling process.

Understanding the RICS Home survey standard proposal

RICS is updating the Home survey standard. Our objective is to ensure that it keeps pace with an evolving market and continues to meet the needs of consumers and surveyors.

RICS Property Investment Forum

The RICS Property Investment Forum was set up in response to the global financial crisis and convenes up to four times a year.