ao link
Twitter
Facebook
Linked In
Twitter
Facebook
Linked In

London HAs needs long term certainty - MH (embargoed to 0001 Tuesday 25)

Linked InTwitterFacebookeCard

Housing associations need secure, long-term funding to help create homes for the 380,000 households on waiting lists across the capital, according to the London Assembly. 

The mayoral watchdog said on Tuesday that greater clarity is needed on how affordable housing will be funded in future, with the government’s affordable homes programme due to finish in 2015.

‘London’s housing associations have a proud history of providing good quality homes for people on low incomes and those who need specialist accommodation, but without a secure long-term source of funding, it is hard to see how they will be able to meet the ever-increasing demand,’ said Len Duvall, assembly member.

Mayor Boris Johnson has committed to delivering 17,000 affordable rent homes by 2015, but a report by the assembly’s housing and regeneration committee warned the March deadline may need to be extended to maximise delivery of new homes, following a slow start in building.

Recent figures show increased activity on affordable housing builds, partly due to pre-build funding incentives for developers, the assembly said, but this level would need to be sustained until September 2013 for his overall target to be met.

The report also noted concerns that the new affordable rent model – which allows housing providers to charge up to 80 per cent of market rents – could result in a sharp rise in rent arrears and potentially higher borrowing costs.

It called on the Mayor to support tenants in holding housing associations to account, outlining concerns about the transparency of some housing associations, including the levels of tenant representation and public access to meetings.

Earlier this month the mayor called the shortage of affordable housing in the capital ‘perhaps the gravest crisis the city faces’ in his vision for the future, arguing that a London rental standard should be brought in to offer certainty to landlords and tenants to combat ‘punishingly high’ rents.

Linked InTwitterFacebookeCard
Add New Comment
You must be logged in to comment.
RELATED STORIES