London's Mayor Sadiq Khan, has outlined his plans for a new generation of social housing.
The Mayor's new £4 billion Affordable Homes Programme (AHP) for 2021-26 which will run alongside his existing 2016-23 affordable homes programme which has been extended by an additional year due to the pandemic promises to deliver 82,000 new homes across London with the majority to be made available for social renting.
The Mayor has long argued that the most acute need in London is for low-cost homes to rent and has persuaded the Government to allow more than half the new programme to fund social rented homes.
Funding for the new plan will come from a £11.5bn government investment in affordable homes across England which was announced in September.
The Mayor has said: “Despite significant progress over the last four years to build the homes our city needs, the reality is too many Londoners still can’t afford a decent home to rent or buy.
“This is why I have put the twin goals of affordability and quality at the centre of my new Affordable Homes Programme. All Londoners deserve a safe, secure home with enough space to live comfortably, and private outside space to enjoy fresh air. I want to deliver a new generation of social housing in London that sets the standard nationally when it comes to excellent design, safety and sustainability.
“Despite Government Ministers failing to provide London with the full funding our city needs, I’m determined to help build the high quality, genuinely affordable homes that Londoners so desperately need and deserve.”
The Mayor has also set ambitious targets for London to become a zero-carbon city by 2030 and expects homes built with AHP funding to be environmentally sustainable. The new sustainability standards include requirements for all developments of ten or more homes to be net zero-carbon and to incorporate sustainable urban green spaces.
The Mayor is confident that he can achieve these ambitious targets despite an inadequate settlement from Government that doesn’t come close to the full amount London needs to tackle the housing crisis and a construction and development sector which has been thrown into uncertainty by the pandemic and Brexit.
Research undertaken by the GLA and G15 – London’s largest housing associations – last year revealed London needs £4.9 billion per year for the next ten years to meet the capital’s level of affordable housing need.