Khan plans affordable rents for key workers

London Mayor Sadiq Khan has initiated a consultation aimed at making housing more affordable for Londoners, proposing that rents be set at 40% of key workers' average household incomes. Currently, key workers spend approximately 74% of their income on rent for a median one-bedroom property, according to Generation Rent. The London Mayor unveiled plans for at least 6,000 new rent–controlled properties, known as Key Worker Living Rent (KWLR) homes, in the city by 2030. Khan said: "I am determined to do everything in my power to make housing more affordable for Londoners." But critics of Khan's proposed policy suggested his record on building affordable homes has been poor. Just over 3,100 affordable housing builds began across Greater London between April 2023 and March of this year, down from 26,386 starts in the previous 12 months, according to the Office for National Statistics.

City AM (26/11/2024)