Today’s plans will see councils increase their building rates over the next four years to a total estimated at five times greater than over the previous four years
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Sadiq Khan has allocated multiple boroughs in North, East and West London more funding to build affordable council homes over the next four years.
The City Hall programme hopes to address London’s housing crisis by providing 5,404 new homes in certain councils at social rent and London Living Rent levels.
The Mayor announced that £373.2m – which he secured from Government earlier this year – will become available to a number of councils.
But this level of funding, warns the Mayor, is not enough to solve the housing crisis.
He said: “We need at least four times the amount of money we currently get from Government for new social and affordable homes, and we need far greater powers to step in and buy land for new council housing.
“The scale of what I have announced today shows the ambition is there in London to build a new generation of council homes – Ministers now urgently need to step up and go the distance too.”
Newham alone will receive £107.5m to build 1,123 homes – making it the biggest beneficiary of the scheme.
Numerous other councils in North, West and East London are set to receive grants.
Camden will receive £30.8m
Islington will receive £2.2m
Tower Hamlets will receive £13m
Waltham Forest will receive £25.5m
City of London will receive £14.9m
Hackney will receive £45.6m
Hammersmith and Fulham will receive £15.3m
Haringey will receive £62.8m
Kensington and Chelsea will receive £33.6m
In addition to the funding, City Hall will offer boroughs an innovative way to ringfence their Right to Buy receipts to invest in new homes and expert property advice.
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HeadlineLondon Mayor Sadiq Khan greenlights £373.2m to build 5,400 new council homes
Short HeadlineMayor funds 5,400 new council homes
StandfirstSadiq Khan has said that four times the amount of money would be needed from Government to solve the housing crisis
Sadiq Khan has allocated multiple boroughs in North, East and West London more funding to build affordable council homes over the next four years.
The City Hall programme hopes to address London’s housing crisis by providing 5,404 new homes in certain councils at social rent and London Living Rent levels.
The Mayor announced that £373.2m – which he secured from Government earlier this year – will become available to a number of councils.
But this level of funding, warns the Mayor, is not enough to solve the housing crisis.
He said: “We need at least four times the amount of money we currently get from Government for new social and affordable homes, and we need far greater powers to step in and buy land for new council housing.
“The scale of what I have announced today shows the ambition is there in London to build a new generation of council homes – Ministers now urgently need to step up and go the distance too.”
Newham alone will receive £107.5m to build 1,123 homes – making it the biggest beneficiary of the scheme.
Numerous other councils in North, West and East London are set to receive grants.
Camden will receive £30.8m
Islington will receive £2.2m
Tower Hamlets will receive £13m
Waltham Forest will receive £25.5m
City of London will receive £14.9m
Hackney will receive £45.6m
Hammersmith and Fulham will receive £15.3m
Haringey will receive £62.8m
Kensington and Chelsea will receive £33.6m
In addition to the funding, City Hall will offer boroughs an innovative way to ringfence their Right to Buy receipts to invest in new homes and expert property advice.