London needs 66,000 new homes each year to keep up with demand, according to the London Assembly. However, in recent history, nothing like this capacity has ever been delivered.
In 2016-17, there were just 41,371 net additions to London housing stock and less than 5,500 affordable homes were completed in 2017-18, compared with an average of over 10,000 per year in the last decade.
Half of London’s need is for social rent, but only 14% of all home starts so far in this Mayoral term are for social rented homes.
On Wednesday 28 November, the London Assembly Housing Committee published its annual ‘Affordable Housing Monitor’ report, outlining Sadiq Khan’s record in delivering affordable homes for the capital. The committee met to discuss the Mayor’s funding programmes, delivery of affordable homes and the likely impact of his new funding for council homes.
The Chair of the Housing Committee, Sian Berry AM, said, “The Mayor is letting down Londoners, he promised us more affordable housing but so far has fallen very short of his promises, particularly on social housing which is our greatest need.
“With young and lower-income people suffering the most from the housing crisis, we can’t wait much longer for his policies to kick in. The Mayor must fulfil his pledges. It is in his power to ease the housing crisis and meet his targets – especially as he has received new funding.
“There is now no excuse for genuinely affordable housing to be out of reach for Londoners who want a secure home.”