Ambitious plans to build 90,000 new homes in London by Sadiq Khan have been received with mixed reaction.
The pledged homes will be a mixture of shared ownership, a new London living rent and low-cost rent.
Whilst the majority of houses will be delivered by housing associations, the Mayor hopes the new plan will "speed up building".
He added: "The record-breaking investment I have agreed with government means we can start building a range of different affordable homes to suit Londoners’ needs.
"Together with my new planning guidance, we can begin to boost the number of homes built in London and move towards a long-term strategic goal of half of all new homes being genuinely affordable."
But what are the two new parts of the housing plan and what do we still not know?
getwestlondon breaks down the facts from City Hall's announcement.
What is the new affordable homes funding programme?
- £3.15 billion will be allocated to building 90,000 "affordable homes"
- The Mayor has said "no one size fits all". The houses will be a mix of low cost rent, shared ownership and London Living Rent.
- The new "London Living Rent" is a third of the average household incomes in each borough. Full details have not been released as yet.
- The houses will be delivered by housing associations, but 35% of the developments must be affordable
- A "London plan" releasing full details will be released in 2019
What is the new supplementary planning guidance?
- Developers are to get a new quicker route through the planning process
- Khan's Supplementary Planning Guidance (SPG) will support new 'Build to Rent' developments, where the likes of pension funds invest in blocks of long-term private and affordable flats to rent
What are the potential pitfalls spotted by Assembly members?
The announcement has not come without heavy criticism from London Assembly Members (AM), who were quick to notice the number of affordable homes developers need to build was reduced from 50% to 35% .
Tory chairman of the London Assembly Housing Committee, Andrew Boff said: "There was a clear statement that 50% was what he wanted.
"Now this has become a long-term aspiration.
"The Mayor has resiled on his planning target."
Housing campaigner and Assembly Member, Sian Berry, claimed it was similar to the government's Help To Buy scheme which helped people who were high income earners already on their way to buying property.
She said: "Renters in London come from all walks of life and those in most need of truly affordable rents don’t earn anywhere near £60,000 a year.
"We need to make sure people without good credit ratings, who are more than likely to have been driven into debt by the terrible terms of the current rental market, have access to London Living Rent homes too."
The Green party member continued: "The Mayor needs to tell us what will happen to renters who aren’t able to save for a deposit within the timescale envisaged by his scheme, whose family or employment circumstances change.
"Will they be forced to lose their tenancies when their time is up?”
Will the Mayor be able to deliver 90,000 new homes?
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