Defining moment

Last week the chancellor revealed his hand.

We asked for a shift of focus – away from homeownership towards housing supply; away from short-term rhetoric towards long-term strategy; away from a free market approach towards direct intervention. We scored a hat trick.

We asked for greater flexibility and investment; we got it. And Sadiq Khan asked for a funding settlement which reflected the scale of the crisis in London. His wish was granted.

This week the Mayor of London revealed his hand. He is offering a higher fixed rate grant in return for more genuinely affordable housing. His ask reflects the fact that affordability is now a problem for a wider group of people, many of whom want to buy their own home. It’s a winning hand – one which sits squarely with the charitable mission of housing associations.

“Now housing associations… must rise to the challenge and put the housing crisis behind us once and for all.”

As as a member of g15 I have been given a place at the table on the Homes for Londoners Board. In accepting that place I have made a pledge on behalf of g15 “to set aside our parochial differences and work together to achieve a step change in housing supply in the capital”. Now we have to deliver on that pledge.

I won’t pretend it will be easy; we have a steep hill to climb. Together we need to acquire and assemble enough land. We have to invest in the skills Londoners need to join us in this endeavour. And we have to take risks which we haven’t taken before.

But in the month of the 50th anniversary of Cathy Come Home, I believe this is another defining moment in housing history. Sadiq Khan has secured the very best deal for London. Now housing associations in partnership with local authorities and house builders must rise to the challenge and put the housing crisis behind us once and for all.

David Montague, chief executive of L&Q and chair of the g15 group of large associations in London