solving a national crisis

The cost of living

“In a move worthy of George Orwell’s Ministry of Truth, affordable rent is to be set at 80% of the local market rent. Across whole swathes of southern England affordable rented properties will simply not be affordable to people on low incomes.”
The Guardian

There are currently 1.8m households on local authority waiting lists for affordable homes, with 375,000 of these in London and with just 6,592 ‘affordable’ homes built in London in 2013/14, the problem is not being addressed.

Q4 2015 figures from home.co.uk state that the average rental price of a one-bedroom home in the capital is £1,981 per month. This contrasts with the average London local housing allowance rate of £895 per month for a one-bedroom home. In central London the situation is even worse with a one-bedroom home in Westminster commanding an average rent of £3,533 per month. Figures published in Homes & Property predict that over the next two years rents will rise by 16% compared to a rise in income of just 2.5%.

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There are currently 1.8m households on local authority waiting lists for affordable homes

6,592

6,592 ‘affordable’ homes built in London in 2013/14

30%

Rent for a one-bedroom home in London has risen by up to 30% over five years

13.5%

Predicted rise in rents in excess of rise in wages.

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At 80% of open market values is ‘affordable’ housing genuinely affordable?

This shared ownership apartment, currently deemed ‘affordable’ sits between the trendy Old Street roundabout and Regent’s Canal, and is been listed for £1,025,000 on Sharetobuy.com – a website geared towards properties available on a part-buy part-rent basis.

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Sadiq Khan has said “The housing crisis is the single biggest barrier to prosperity, growth and fairness facing Londoners today.

Our capital needs more than 50,000 new homes a year. In the past, too often the houses that have been built are not the properties that London needs. Too many are sold off-plan to overseas investors, only to sit empty, and too many are simply not affordable

My housing priority is to get London building the homes and communities we need, with a target of half of all the new homes that are built across London being genuinely affordable to rent or buy.

I want to build new homes on land owned by the Mayor, including Transport for London land, and bidding to develop other public sector land.

Homes for Londoners will build the genuinely affordable homes we need, including:

  • Homes for social rent, supporting councils and housing associations to build.
  • Homes for London Living Rent – a new type of home for people struggling to rent privately, where rents are based on one-third of average local wages.”

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PandV

The public sector has to be creative in its thinking

Former Cabinet Minister, now Head of the new National Infrastructure Commission (NIC), Andrew Adonis is similarly minded: “The collapse in housebuilding has largely been a function of the withdrawal of the state and local authorities from planning and developing new settlements since the mid-1970s,” he wrote in a Prospect magazine feature headlined: How to fix the housing crisis. “Housebuilding has been almost entirely left to the private and voluntary sectors, which cannot meet demand alone.”

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