The stakeholders of the London housing sector have emphasised the role of Crossrail 2 in mitigating the housing crisis in the long-term. Leading personalities from homebuilding, property industries and housing associations urged the UK Government to give its firm backing to Crossrail 2 and provide a key boost in tackling the housing crisis.

Building on the economic case outlined by senior business figures last week, 66 homebuilding and property industry leaders, including Taylor Wimpey, British Land and all of the g15, London’s largest housing associations, have written to the Chancellor, Transport Secretary and Communities Secretary to show how vital Crossrail 2 is to unlock new, good-quality homes and commercial space, the London Mayor’s office said in a statement.

The industry leaders say the new railway would transform transport capacity and connectivity for underdeveloped areas of the capital, such as the Upper Lea Valley. This will give housebuilders the certainty they need to accelerate the development of up to 200,000 new homes urgently needed to help address the housing shortage across London and the South East. The benefits will be felt right across the South East with 30 per cent of the new homes delivered outside London, supporting regional growth corridors between Cambridge and Stansted, and south west towards Portsmouth.

They urged the Government to give the green light to the scheme without delay, so they can seize the opportunities to develop housing and commercial space in areas opened up by improved transport capacity.