Building in London must speed up to reach target
The rate of housebuilding in the English capital must be ‘accelerated at lightning speed’ if Boris Johnson is to hit his targets for affordable homes, London Assembly members have warned.
The assembly heard last Wednesday that just 43 starts have been made in the current financial year. Assembly members calculate 9,500 affordable homes need to be started by September if the Mayor is to achieve his target of 55,000 new affordable homes by 2015.
The warning during a London Assembly budget monitoring sub-committee meeting came ahead of an announcement by the Mayor of London to be made this morning about the next phase of funding of affordable homes in London.
Labour assembly member John Biggs, chair of the sub-committee, said: ‘The mayor needs to up his game if he is to meet his target of providing 55,000 new homes for Londoners by the March 2015 deadline.
‘The tortoise-paced start to this financial year – with only 43 sites begun – must be accelerated at lightning speed if his affordable housing target is to be achieved.
‘London is facing a housing crisis with demand for affordable housing far outstripping supply.
‘On behalf of all the Londoners who face being priced out of the capital, the assembly will be scrutinising whether the mayor can live up to his housing promises.’
Under the affordable homes programme, homes have to be completed by March 2015,meaning they need to have been started by September this year to allow time for them to be built.
The most recently published Greater London Authority statistics show there were 10,092 affordable homes started in the 2012/13 financial year. These included 4,936 for social rent, 1,672 for ‘affordable’ rent and 3,484 for low cost home ownership.