Mayor of London announced a new approach to affordable home building
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August 17, 2017
Mayor of London, Sadiq Khan announced yesterday (16th August) a fresh approach to increase the number of new affordable homes in London.
In new guidance he has set out how he will use his planning powers to fast-track new homes.
Under the new guidance, in order to fast-track homes through the planning system, developers will have to provide at least 35 per cent affordable housing without public funding.
On public land, this rises to at least 50%. This is an increase on the 13% affordable housing levels given planning permission when Sadiq became Mayor last year.
The Mayor is also working with housing associations and councils on new schemes that will provide 60% or more affordable housing. This is backed by his record-breaking £3.15 billion deal with government.
He expects other public landowners to follow Transport for London in promising at least 50 per cent affordable housing in all new developments.
Sadiq Khan, said: “The housing crisis is the biggest challenge facing Londoners today with too many people – particularly the younger generation – being priced out of our city, unable to afford a home.
“We’ve already agreed to put £1.7bn of the investment that I secured from government into 50,000 new and genuinely affordable homes to rent and buy. This investment will work hand-in-hand with the new approach for developers that I’m introducing today.”
