New housing guidance will boost more affordable homes for Londoners
Mayor of London, Sadiq Khan, has announced a fresh approach to increase the number of new affordable homes in London.
In new guidance published today, he has set out how he will use his planning powers to fast-track new homes.
Under the new guidance, in order to fast-track homes through the planning system, developers will have to provide at least 35 per cent affordable housing without public funding.
On public land, this rises to at least 50 per cent. This is a significant increase on the 13 per cent affordable housing levels given planning permission when Sadiq became Mayor last year.
The Mayor is also working with housing associations and councils on new schemes that will provide 60 per cent or more affordable housing. This is backed by his record-breaking £3.15 billion deal with government.
He expects other public landowners to follow Transport for London in promising at least 50 per cent affordable housing in all new developments.
Mayor of London, Sadiq Khan, says:
The housing crisis is the biggest challenge facing Londoners today with too many people – particularly the younger generation - being priced out of our city, unable to afford a home.
We’ve already agreed to put £1.7bn of the investment that I secured from government into 50,000 new and genuinely affordable homes to rent and buy. This investment will work hand-in-hand with the new approach for developers that I’m introducing today.
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