Londoners are set to get “first dibs” on lower-cost, newly-built homes in the U.K. capital, the Mayor of London Sadiq Khan announced on Monday. In an effort to make homes more available to locals, housebuilders have pledged to give London residents and workers a one-month head start to buy new homes up to a value of £350,000, or $491,876, before other buyers get a chance to purchase them. Other U.K.-based buyers will then get a two-month advantage before overseas marketing of the properties can take place. “By focusing their efforts on homes up to £350,000 — the lower-priced end of the private sales market — the industry offer helps secure ‘first dibs’ for Londoners on homes that are broadly affordable by households who would be eligible for affordable housing — those earning up to £90,000,” the Mayor’s office said in a statement.
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