London misses affordable housing target

London misses affordable housing target

A report from the Mayor of London has found that the capital has missed its three-year average target of completing 13,200 net additional affordable homes per year .

It discovered that just 8,374 affordable units were completed during 2014-2015.  

Figures produced by the Mayor of London’s London Plan Annual Monitoring Report also found that affordable units only represented 25% of all housing completions compared to 27% the previous year. 

Elsewhere, the report said the amount of affordable housing supply during the past year had fallen to 6,856 in 2014-15 from 6,914 in 2013-2014.

In the meantime, over the last three years, net conventional affordable housing completions through planning permissions hit 21,356 homes with social related units making up 51% of this total. 

One London borough, Bromley, actually recorded a fall in the net affordable housing figure in 2014-2015 due to a substantial loss on the redevelopment of Alkham Tower. 

The news comes as Mayor of London Boris Johnson announced 11 new housing zones which would provide 24,554 new affordable homes.

Boris said: “Meeting the unprecedented demand for housing after 30 years of historic failure to build new homes is a critical issue affecting the capital. 

“That is why I have led an enormous programme of regeneration with my 31 housing zones that will transform communities across London, creating nearly 80,000 new homes, plus new transport hubs and schools.”

The mayor is aiming to deliver 100,000 affordable homes by the end of his term. 

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