Affordable Housing: Greater London
The question
To ask the Secretary of State for Housing, Communities and Local Government, what steps her Department is taking with the Mayor of London to increase the level of construction of affordable housing in London.
Answered by Matthew Pennycook
On taking office in July 2024, the government acted quickly to agree changes to the Affordable Homes Programme to strengthen the delivery of affordable homes in London, including providing the GLA with flexibilities on completion deadlines and allowing the GLA to fund some intermediate rent homes.
At the Spending Review the Chancellor announced £39 billion for a successor to the Affordable Homes Programme over 10 years from 2026-27 to 2035-36; a 10-year rent settlement; an intention to implement a rent convergence mechanism; and £2.5bn in low interest loans to support new development (alongside commercial lending).
These measures cover the main elements of our social and affordable housing investment strategy in this Parliament. Alongside other aspects of our reform programme, including forthcoming details on future quality and safety regulation, they will give Registered Providers, including those operating in London, the clarity and certainty they need to quickly ramp up investment in existing and new stock.
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