In the first round of bidding for his new 2021-26 affordable homes programme. Mayor of London, Sadiq Khan, has agreed a new deal with Government to fund the building of thousands of council and other genuinely affordable homes.
In total £3.46bn is to be put into building 29,456 homes over the next five years.
Khan has spearheaded a renaissance in council homebuilding, with more new council homes started in 2019/20 than in any year since 1983.
His new deal involves both councils and housing associations. Half of the social rented homes being built will be delivered by councils, and just short of 60 per cent of the homes (16,739 homes) will be made available at the cheapest social rent. The remainder will be for shared ownership and London Living Rent which can help Londoners on average incomes move into homeownership.
‘I am delighted that we have been able to come to a deal with the Government to get started on nearly 30,000 genuinely affordable homes’, said Khan.
‘Over the last five years I have overseen a council homes renaissance in London thanks to our relentless focus on giving boroughs the funding and expertise they need to build. I’m pleased to see this is now paying off with more than half the homes being funded at social rent levels in this deal being built by councils.
‘All Londoners deserve a safe, secure home with enough space to live comfortably, and private outside space to enjoy fresh air. I want to deliver a new generation of genuinely affordable housing in London that sets the standard nationally when it comes to excellent design, safety and sustainability’.
