Mayor boosts council homebuilding ambitions with £10 million fund
London’s housing crisis has been decades in the making and there is no easy solution – but with the new £10 million fund available to ambitious councils, they can boost their role in building new homes in the capital.
Over the last 8 years, central government cuts have seen council budgets for planning and development fall by 50 per cent in London. This has held back housing growth, and particularly plans to build new council homes.
By even further contrast, in the 1970s London councils were supported by central government and built more than 20,000 homes a year. Over the last 7 years these councils built only 2,500 homes, including 700 that were completed last year.
Despite wanting to do far more, councils have been hamstrung by cuts from government for far too long.
Sadiq’s new Homebuilding Capacity Fund will allow councils to bid for up to £750,000 each to boost their housing and planning teams. This could include hiring new staff to lead council homebuilding projects and develop new masterplans.
Bids will be considered that help to deliver:
• a new generation of council homes
• more homes, including social rented and other genuinely affordable homes, on small sites
• proactive masterplans in areas with significant growth potential
• optimal density across new residential developments in an area
The Homebuilding Capacity Fund will work alongside other practical support that City Hall is providing to help councils build again.