Seven times current funding needed for affordable London housing

London Mayor Sadiq Khan says he needs several times the current funding level to deliver affordable housing in the capital. According to a new report by the Greater London Authority, £4.9bn is needed each year to give Londoners affordable housing - seven times the £700m City Hall receives via the annual housing grant from central government. The report cites Mr Khan's affordable homes programme, noting that to deliver a similar 10-year programme up until 2032, there needs to be 325,000 new affordable homes over the course of the scheme. City Hall figures show 14,544 affordable homes were started last year, exceeding the target of 14,000 agreed with central government.

City AM (23/06/2019)