First Dibs for Londoners

First Dibs for Londoners

Paul Hackett, Chair of the g15, appeared on ITV London News on Monday (5 February) to discuss The Mayor of London’s announcement around offering Londoners ‘first dibs’ on new homes.

The g15 have committed to the following:

  • Restricting the sales and marketing of all new build market homes in London with a sale price of £350,000 or below to UK residents only. This will be for a period of at least three months before commencing any overseas sales or marketing
  • Providing a ‘head start’ for Londoners in accessing new build market homes in London by restricting the sales of all new market homes valued at £350,000 or less to Londoners only. This will be for the first month of the three month restricted marketing period
  • Marketing all homes that are being sold under the Help to Buy scheme in London through the Homes for Londoners property portal

Paul Hackett, Chair of g15 and CEO of Optivo, said:

“As an open and thriving world city, London is hugely attractive to foreign investors. Although this has had many benefits in recent years, it’s also made it increasingly difficult for Londoners to compete in what has become a global housing market in our own capital city. As London’s largest housing associations, g15 support the Mayor’s ‘first dibs’ for Londoners initiative. We recognise the importance of prioritising ordinary Londoners, who otherwise would find it much harder to buy a home in the city in which they live and work.”

For further information on this initiative visit: https://www.london.gov.uk/press-releases/mayoral/homes-under-350000-to-be-offered-to-londoners