0

A record-breaking number of new affordable homes were started in London in the last 12 months. This includes the highest number of new council homes started in 34 years, according to figures released by City Hall.

As many as 14,544 affordable homes were started in the year 2018/2019, more than in any year since City Hall took control of housing investment in the capital. This total exceeds the target agreed with government ministers.

Social rent level homes

The 14,544 homes developed with the support of city hall includes 3,991 homes at social rent levels and 1,916 council homes, which is more than in any year since 1984/1985. This total of homes built is more than double the 7,189 homes that were started in the final year of the previous mayoralty.

Knight Knox – MPU

London Mayor Sadiq Khan said that the figures underline his determination to do everything in his power to tackle London’s housing crisis. He is also urging the Government to give him greater powers and resources, so that he may continue to make progress in this area.

A sustained house building effort

In terms of funding, £1 billion is being invested into building 14,700 new council homes, which includes 11,000 social rented homes over the next three years. The Mayor has also secured a total of £4.8 billion from Government to proceed with 116,000 new homes in London by 2022.

Tackling the housing crisis

Sadiq Khan, Mayor of London commented: “These record-breaking figures show that focusing on building council and social rented homes for Londoners is the right way to tackle the capital’s housing crisis. Not only do these figures beat our own records from last year, but this is more than double the number the previous Mayor started in the final year of his term.”

Mr Khan added: “My Building Council Homes for Londoners programme has made huge progress already – with more council homes started than in any year since 1985. Councils are beginning to build again after decades of their hands being tied behind their backs but national Government needs to match our ambition and determination to deliver the homes Londoners so urgently need.’

The Mayor of London also believes that a step-change is needed to address the capital’s housing crisis, which will require ministers to increase affordable housing investment.

Property Notify
Property Notify is a leading property sector publisher reporting on breaking news and political changes affecting the UK property industry, in addition to finance, tax and investment coverage we provide a hub to explore, contribute, invest in and celebrate the property industry. - Read more.

    Japan’s Biggest Housebuilder Moves into UK Housing Market

    Previous article

    Housing Transactions Rose for England and Wales in April

    Next article

    You may also like

    Comments

    Leave a reply

    Your email address will not be published. Required fields are marked *

    More in News