Responding to the Mayor of London’s announcement of new funding for two housing projects, London Assembly Labour Group Housing Spokesperson Tom Copley AM said:
“Today’s announcement is a welcome recognition from the Mayor that he needs to do more to deliver affordable housing. Over seven years of Boris Johnson’s mayoralty vast numbers of people have been locked out of London’s housing market as prices have rocketed. A major reason for this has been the Mayor’s persistent failure to build enough homes which are truly affordable. The evidence shows we need to build 62,000 homes a year in London but last year fewer than 18,000 were built, many of them priced well beyond what ordinary Londoners can afford.
“Whilst this new scheme is welcome the fact is it will not be fully delivered for another five years and the small number of homes it will deliver represents a drop in the ocean compared with what London is crying out for.
“As with anything the devil of this announcement will be in the detail. I hope that this truly is new money and not the Mayor funding this project by cutting other affordable housing budgets.”