"The new rules would mean Sir Sadiq Khan's current requirement for 35 per cent of developments to be affordable would be ditched. Instead, a 20 per cent target would be introduced, with half the affordable homes being funded by developers and half by the relevant borough council, probably using Government funds distributed by City Hall."
"Only 347 affordable homes were started across London between April and June - a fraction of the 88,000 new homes the Government says are needed each year in London. In 2023/24 there were only 2,358 affordable starts, though this increased to 3,991 in 2024/25, according to City Hall data. Earlier this year the mayor was allocated 11.7bn for affordable housing in London between 2026 and 2036."
"The construction industry says the 35 per cent rule, coupled with safety regulations introduced in the wake of the Grenfell Tower fire and delays in the planning process, are to blame for the collapse in housebuilding. However, this has sparked fears of a fall in the amount of social housing in London and that developers could seek to renegotiate the amount of affordable housing in already approved schemes."
A proposed emergency change would replace the 35 per cent affordable housing requirement for London developments with a 20 per cent target. Half of the affordable homes would be funded by developers and half by the relevant borough council, likely using Government funds distributed by City Hall. A formal announcement is expected before the end of October. The move follows talks between the mayor and the Housing Secretary about pressures on the housing sector. Affordable starts have fallen sharply, prompting concern about reduced social housing and potential renegotiation of approved schemes. The construction industry blames policy thresholds, post-Grenfell safety rules and planning delays for the downturn.
Read at www.standard.co.uk
Unable to calculate read time
Collection
[
|
...
]