Mr. Khan's proposal aims to set rents for newly constructed affordable homes at 40% of key workers' incomes after tax, which is a recognized measure of affordability.
Comparing rent-controlled homes with private rentals, key workers could save up to £600 a month, with the controlled rate significantly lower than the market average for two-bedroom properties.
The eligibility for rent-controlled housing is set for households with a joint annual income of up to £67,000, catering to various key worker roles including those in health, education, and essential retail.
While Mr. Khan promised to create 6,000 purpose-built rent-controlled homes, the new deadline of 2030 raises concerns, as some constructions may begin after he leaves office.
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