Responding to the announcement of guidance around London’s allocation from the Government’s new Affordable Homes Programme, Stephanie Pollitt, Programme Director for Housing at BusinessLDN, said:
“London’s housing crisis is hitting people living across the capital and is a major threat to the city’s competitiveness as a place to do businesses. That’s why it’s very welcome the Government has agreed the biggest ever affordable housing settlement for London as part of a package of reforms to kickstart delivery in the capital and beyond.
“Deploying this funding in a flexible way that leverages in further private investment will be critical given London’s acute housing need, higher construction costs and its stretching 88,000 new homes annual target. It’s only by bringing the public and private sectors together that the capital will get anywhere close to achieving this.
“The Government should also work with the private sector to explore innovative funding models that can help to deliver shovel-ready projects such as the DLR to Thamesmead and Bakerloo line extension, which have the potential to unlock tens of thousands of new homes in London.”