Responding to news that London will receive an additional £1.7bn to deliver a further 26,000 affordable homes by 2021/22, Ben Rogers, Director at Centre for London said:
“Today’s announcement represents a substantial increase in affordable home funding for London — albeit from a previously announced national grant.
“This injection of cash comes at a critical time. According to the Mayor, London needs to build 66,000 new homes each year to meet growing demand but the signs are that delivery in the private market will slow down, and with it, the supply of affordable homes delivered through agreements with developers.
“The funds announced today should enable boroughs and housing associations to drive ahead with developments which might not have been otherwise viable.
“But this is just one part of the jigsaw. We need to get better at addressing local opposition to new housing, building high quality high density development, developing effective partnerships between boroughs and equipping boroughs with the tools and capacity they need to drive development forward.”