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London mayor funding highest level of affordable housing since 2010

More affordable housing was funded by the London mayor in the last financial year than in any other year since 2010/11, statistics from the Greater London Authority (GLA) have shown.

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Sadiq Khan, the mayor of London
Sadiq Khan, the mayor of London
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More affordable housing was funded by the London mayor in the last financial year than in any other year since 2010/11 #ukhousing

Affordable housing starts in the capital are up 40% on the previous year #ukhousing

In the year to the end of March, the GLA funded 40% more affordable housing starts than they did in the previous year, the number rising from 8,935 to 12,526, including a dramatic revival in the number of homes started for social rent.

In 2016/17, no homes at all were built for social rent, but in 2017/18, this rose to 2,826. The overall figure of 12,526 affordable starts only just hit Sadiq Khan’s target for the year of 12,500.

Almost all of the affordable homes funded by the GLA were paid for through the Affordable Homes Programme, which was far more popular among councils and housing associations than the previous programme, run by then mayor Boris Johnson.

The GLA allocated £1.7bn of grant funding in July last year, designed to deliver 50,000 homes.

One feature of this programme was that for housing associations receiving funding, shared ownership and London Living Rent – a new tenure introduced by Mr Khan – homes are treated as interchangeable.

These tenures made up just over half the affordable homes delivered in the capital in 2017/18.

A spokesperson for the mayor of London said: “The mayor welcomes these latest figures, which show 12,526 new affordable homes were started over the past 12 months, including thousands at social rent levels – achieving his target for the year and recording the highest number of affordable homes started since City Hall took over funding.

“Sadiq is clear that while this is a positive start on the first set of homes he has funded, there is more work to be done to tackle the housing crisis in London. He remains determined to do everything in his power to build more homes for Londoners and is on track to deliver his ambition of starting 116,000 genuinely affordable homes by 2022.”

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