Source link : https://london-news.net/londons-affordable-housing-quota-slashed-to-20-a-controversial-move-amidst-urgent-housing-crisis/
The government and the Mayor of London have reached a consensus to reduce the affordable housing requirement for new developments in the city from 35% to 20%.
City Hall indicated that this decision aims to accelerate planning processes, encourage developers, and facilitate the construction of more residences.
Developers will be offered an expedited application process if they agree to include 20% affordable housing in their projects.
In addition to this announcement, the mayor has been granted expanded planning authorities and financial support.
City Hall will now have the capability to intervene in planning proposals involving over 50 homes that were previously declined by local councils.
Currently, they already possess the authority to intervene in projects with over 150 homes.
A new £322 million Developer Investment Fund has also been established by City Hall to stimulate developer participation.
In 2016, Mayor Sir Sadiq Khan emphasized that London needs to construct approximately 66,000 new homes each year to satisfy demand, with over half of those needing to be affordable.
In 2017, he reiterated the need for a streamlined process for major developments to achieve at least 35% affordable housing.
However, according to the Home Builders Federation, only 30,000 residential units were completed last year, while the government estimated that 88,000 homes need to be built annually to meet the city’s housing requirements.
Figures from City Hall indicate that during…
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Publish date : 2025-10-23 16:59:00
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