London Living Rent plan could help supply 90,000 new homes by 2021

by Property 118

8:25 AM, 6th December 2016
About 2 years ago

London Living Rent plan could help supply 90,000 new homes by 2021

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London Living Rent plan could help supply 90,000 new homes by 2021

London Mayor Sadiq Khan hopes his living Rent plans will supply 90,000 new homes by 2021. The idea will set rents at no more than a third of the local average household income while tenants save for a deposit to buy a property.Sadiq khan

£3.15bn has been pledged to London from central government in the Autumn Statement in an effort to provide affordable homes. The money will also go towards a mix of shared ownership and low cost rent as well as Living Rent.

The Mayor will also be looking to free up planning rules and work with housing associations and developers to deliver genuinely affordable homes to be bought or rented.

Private Build to Rent developments will have viability assessments to calculate the percentage of affordable housing and the levels of discounted rents that will be charged rather than meeting a fixed target.

The Mayor said “London is in the midst of a housing crisis, with thousands of Londoners priced out of a city they call home.

“I have been clear that fixing the housing crisis will be a marathon and not a sprint, but I am determined to lead from the front and get on with building genuinely affordable homes for Londoners to rent and buy.

“These announcements demonstrate real progress on the long road towards fixing London’s housing crisis.

“The record-breaking investment I have agreed with government means we can start building a range of different affordable homes to suit Londoners’ needs. Together with my new planning guidance, we can begin to boost the number of homes built in London and move towards a long term strategic goal of half of all new homes being genuinely affordable.”



Comments

Dylan Morris

11:00 AM, 6th December 2016
About 2 years ago

I've got a much better idea ......... end mass immigration.

Simon Griffith

11:13 AM, 6th December 2016
About 2 years ago

I agree Dylan. 300,000 net immigration every year. Do you see a like increase in supply of hospital beds, school places, housing ? No of course not. This is before making further allowance for the incumbent population living longer etc. Government schemes like this don't even start to catch up and never will - tinkering around the edges, again. The Government open door policy causes the problem and then they viciously attack the PRS who could reasonably provide some of the solution. Pathetic.

Jay James

11:13 AM, 6th December 2016
About 2 years ago

I could not disagree more strongly with those that want reduced immigration. I would like to see it completely stopped.

Jay James

11:14 AM, 6th December 2016
About 2 years ago

Reply to the comment left by "Simon Griffith" at "06/12/2016 - 11:13":

And they are using £3.15bn of our money for this particular scheme. How dare they.

terry sullivan

11:15 AM, 6th December 2016
About 2 years ago

it will fail

Mandy Thomson

11:34 AM, 7th December 2016
About 2 years ago

A reduction to immigration will depend on the brexit deal the government manages to broker with the EU.

However, London always has been, and will hopefully remain, a major world city that attracts business and where business goes investors and workers will follow, and of course these people need housing, of all kinds and all tenure types.

Aside from stopping the ridiculous and vicious attacks on small private landlords, business needs to be attracted away from London and the south east; while some of this is already going to cities such as Birmingham and Manchester, there are many other desirable locations within the UK suffering from lack of opportunity, certainly in comparison to the South East. These areas have qualified workforces already living there and plenty of capacity to house additional incoming workers; why isn't more being done to promote these areas as potential business locations?

In addition, the welfare state where everything is free (except to the taxpayer) is overdue for reform. For example, why isn't the NHS ensuring that it isn't properly reimbursed for treating non UK citizens? Why should it be completely free even for UK citizens? We need a mixed funded healthcare system in the model of the French and German systems which are much more efficient than the NHS, especially at the point of use for the patient.

terry sullivan

12:04 PM, 7th December 2016
About 2 years ago

we need no deal with eu--we trade with the world--may is hopeless and not to be trusted

Dylan Morris

12:10 PM, 7th December 2016
About 2 years ago

So if 90,000 homes are supplied by 2021 (and this will take 5 years) what after then ? I get impression the Establishment won't be happy until the whole of the UK is concreted over from John O'Groats to Lands End.

rob david

18:13 PM, 13th December 2016
About 2 years ago

Immigration - the ANNUAL 0.33 of a million 'doctors, nurses and engineers' they know of. No worries, the UK is an infinite land resource to be ransacked for politicians, to any thinking person who's sampled a motorway it's a ponzi scheme to keep the books straight.


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