London mayor Ken Livingstone has announced plans or 50,000 more affordable homes in London over the next three years. The Times. The Daily Telegraph. Financial Times
Livingstone said he would use his new housing and planning powers to drive up the supply of new homes. The 50,000 target by 2011 would represent a 50% increase in the delivery of affordable homes and a doubling in the supply of homes for social rent, he said.
In his draft housing strategy published yesterday raised the proportion built for the socially rented sector and low-cost home ownership schemes from 32% to 50%.
He said a higher proportion of the new affordable homes should have three or more bedrooms to accommodate families. Funding would only be provided for homes that met the government’s code for sustainable homes targets.