- London needs 66,000 new homes each year. 48% of that target was achieved in 2017/2018.
- The Mayor has secured £4.82 billion in government funding for affordable homes and has committed to start 116,000 by 2022. To date 41,704 have started – 36%.
- In 2018/19, 14,544 affordable starts were made, supported by Mayoral funding. This surpasses the lower end of the Mayor’s expected range, which was 14,000 homes. London needs 43,000 affordable homes annually, including affordable homes not funded by the Mayor.
- 59% of these starts were for intermediate tenure homes while 27% were for social rent.
- Over 7,500 affordable homes supported by the Mayor were completed in 2018/19, a 41% increase on 2017/18. However, this is still well behind the average of over 10,000 per year in the preceding decade, when different funding arrangements were in place.
The London Assembly Housing Committee, published on the 13th June, the annual ‘Affordable Housing Monitor’. The report tracks how the Mayor is delivering affordable homes in London.
The Chair of the Housing Committee, Tom Copley AM, said:
“The Mayor has delivered the highest number of affordable housing starts in any year since 2010/11.
“It was promising to see nearly 4,000 homes at social rent levels started, up from zero in 2016/17 when the Mayor took office.
“However, government imposed funding conditions mean that the majority of new starts are for intermediate tenures, despite the bulk of need being for homes at social rent levels.
“There is room for the Mayor to go further, and we’ll be putting questions about this report to the deputy Mayor and the executive director for housing today.”
The the Committee will analyse the monitor, the Mayor’s funding programmes and delivery of affordable homes in the last year. The affordable housing delivery meeting will also consider the wider market context and the likely impact of his new funding for council homes.
The guests are:
- James Murray, Deputy Mayor for Housing and Residential Development, GLA
- David Lunts, Executive Director, Housing and Land, GLA
The meeting will take place on Thursday, 13 June at 2.00pm in The Chamber, City Hall (The Queen’s Walk, London SE1).