Mayor to set new definition for affordable housing

5th August 2016

The mayor of London is to introduce a new and tougher definition of affordable housing as property policy in the capital diverges from the Conservative-led approach across the country. Sadiq Khan will tighten the definition of "affordable" in planning guidance to be issued this autumn, said James Murray, his deputy mayor for housing. The proposed level of affordable housing has been boosted from 33% to 40% and also requires “surplus profits” to be put back into the development to lift the level of affordable homes nearer to the Mayor’s eventual target of 50%.

Financial Times (04/08/2016