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GLA allocates £1.7bn of grant funding for 50,000 homes

The Greater London Authority has allocated £1.7bn of grant funding to housing associations and councils to build just under 50,000 homes in London.

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GLA reveals funding allocations

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The funding represents 55% of the £3.15bn of grant allocated to the capital for Sadiq Khan’s Affordable Homes Programme, which aims to deliver 90,000 affordable properties by 2021.

The largest allocations represent the mayor’s ‘strategic partnerships’ with larger housing associations, with L&Q, Hyde, Genesis, Clarion, Network Homes, Notting Hill, Optivo and Peabody agreeing deals.


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These involve the mayor committing to provide grant funding on a flexible basis through to 2021, with the associations committing to make 60% of their development pipelines affordable.

The largest slug of funding is £394.7m given to L&Q for 11,610 affordable homes, with a total of £1.26bn – 74% of the funding – split between these eight large providers.

The remainder of the cash is split between housing associations of various sizes and nine London boroughs – including Croydon Council’s wholly-owned company Brick by Brick (see table).

The funding will be used in confirmed projects in every London borough, with 27,085 yet to be allocated to a location. Of those allocated so far, the largest number of homes will be built in Newham, which will receive 1,911.

Mr Khan’s Affordable Homes Programme funds three tenures of housing for social rent – between £144 per week for one-bed and £187 per week for six or more – shared ownership and London Living Rent, a rent-to-buy product with rents at one-third of median local incomes.

The funding allocated today will see 17,000 social rented and 32,000 Living Rent and shared ownership products built. Providers are being given the flexibility to swap homes between Living Rent and shared ownership depending on local circumstances when homes are completed.

The take-up in the first round of allocations is in sharp contrast to the start of Boris Johnson’s last programme in 2014, which was heavily undersubscribed and saw funding allocated to just 18,000 homes.

A further £446m will be made available when bidding re-opens later this year.

Mr Khan said: “We know that solving the housing crisis is not going to happen overnight, but I very much welcome so many housing associations and councils matching my ambition by committing to build the new and genuinely affordable homes Londoners so desperately need.”

Paul Hackett, chair of the G15 group of large London landlords, said the funding reflects “the urgency of the housing crisis and our strong relationship with City Hall”.

Sir Steve Bullock, chair of London Councils, said the package “will provide much-needed additional support” for developing councils and associations.

Statistics for the last financial year showed 9,690 Greater London Authority (GLA)-funded homes – down on the 12,913 delivered in Mr Johnson’s final year as mayor.

Organisation name

Homes

GLA funding allocation

A2 Dominion

1,870

£80,776,000

Almshouse Consortium

86

£5,160,000

Brick by Brick (Croydon Council)

199

£5,572,000

Catalyst Housing

1,216

£41,024,000

City of London

244

£14,640,000

Clarion Housing Group

5,000

£168,300,000

Estuary Housing Association

76

£2,072,000

Evolve Housing & Support

49

£2,940,000

Genesis Housing Association

2,049

£70,712,000

Grainger Trust

34

£0

Hexagon Housing Association

223

£8,548,000

Home Group

45

£1,164,426

Hyde Housing Association

3,000

£102,000,000

Islington & Shoreditch Housing Association

124

£6,374,200

Lambeth & Southwark Housing Association

4

£240,000

L&Q

11,610

£394,740,000

London Borough of Enfield

148

£5,345,000

London Borough of Harrow

317

£12,620,000

London Borough of Havering

610

£30,296,000

London Borough of Hounslow

174

£9,004,000

London Borough of Lambeth

912

£54,720,000

London Borough of Wandsworth

71

£3,972,000

Look Ahead Care and Support

38

£2,400,000

Metropolitan Housing Trust

704

£18,376,000

Moat

50

£0

Network Homes

1,752

£45,756,000

Newlon Housing Trust

200

£5,600,000

Notting Hill Housing Trust

5,321

£176,386,962

Octavia Housing

833

£31,435,500

One Housing Group

686

£10,184,000

Optivo

2,600

£88,400,000

Orbit Group

347

£14,676,000

Paradigm Housing Group

134

£4,008,000

Paragon Community Housing Group

288

£1,265,600

Peabody Trust

6,000

£220,973,768

Poplar Harca

144

£6,016,000

Richmond Housing Partnership

475

£17,748,000

Sanctuary Affordable Housing

11

£308,000

Southern Housing Group

601

£20,338,000

Southwark Council

201

£12,060,000

Swan Housing Association

127

£5,092,000

Thames Valley Housing Association

418

£8,808,000

Wandle Housing Association

307

£7,472,000

YMCA Thames Gateway

100

£6,000,000

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