London: £1.7bn for Thousands of Affordable Homes
The Mayor of London has announced that almost 50,000 new affordable homes are to be built to help ease the shortage of housing throughout the capitals 33 local districts.
The new homes are part of his of his mayoral campaign promises to bring 90,000 affordable homes by 2021.
The new homes will be developed by 44 housing developers, providers, housing associations and nine of London's borough councils. Its planned that 17,500 will be for rent and nearly 32,000 will be for shared ownership.
The London locations include 1,585 for Barnet, 1,823 for Ealing, 1,448 for Lambeth and 1,314 in Southwark. With locations now established the construction is expected to start soon.
The Mayor has stated: 'I want to see everyone playing their part in tackling the housing crisis in London because it is simply unacceptable that Londoners continue to be priced out of the city they call home.'
'We know that solving the housing crisis is not going to happen overnight, but I very much welcome so many housing associations and councils committing to build the new and genuinely affordable homes Londoners so desperately need.'
'But I am clear that we have got much more to do to secure the land we need to build homes and ensure we have sufficient capacity in the construction industry.'
Paul Hackett of the city's largest housing association 'G15' says:
'The partnership with the mayor is the biggest London’s housing associations have ever committed to, reflecting the urgency of the housing crisis.'
'Sir Steve Bullock of London Councils also stated: “Councils are doing their utmost to tackle the housing crisis which, without action, will result in those providing vital services in our communities being forced to move out of the city.'
Jasmine Whitbread, chief executive of London First, said: “With the average monthly rent now at £1700, businesses are increasingly worried about their employees being priced out of the capital. As the Mayor gets to grip with the reality of housebuilding, it’s great to see him making good on the promise of tens of thousands of affordable new homes. But London’s housing shortfall hasn’t been addressed for years - to catch up to the volumes we need the Mayor has to keep up a drumbeat of housebuilding across the capital, otherwise we risk losing the people we need to stay competitive.”