Affordable housing crisis deepens in London

The number of affordable homes constructed in London has dramatically decreased by 88% from April 2023 to March 2024, with only 3,100 builds initiated compared to 26,386 in the previous year, according to the Office for National Statistics. Mayor Sadiq Khan's ambitious target of 35,000 new affordable homes under his 2021-26 programme now seems unattainable, as this year's figures represent less than 10% of the promised total. Khan has attributed the slow progress to “Tory town halls” obstructing development and the government's failure to meet housing targets. He said: “I'll not hesitate to act to boost the number of new homes for London families.” The government has pledged over £5bn to address the housing crisis, aiming to build 1.5m homes during this Parliament, while also increasing the Affordable Homes Programme by £500m. A spokesperson from the Ministry for Housing emphasised the need for collective action to resolve the housing crisis. 

City AM (25/11/2024)