Mayor London agrees deal to deliver 20,000 new homes

The Mayor of London, Sadiq Khan, has announced a deal with housing association L&Q that will invest £8Bn to deliver 20,000 new homes across the capital.

Of the 20,000 new homes created through the link-up , 12,000 will be classed as “genuinely affordable”, with City Hall providing £400m to help boost affordable housing delivery and to assist with land purchases and infrastructure costs.

The agreement with L&Q is the first under the Mayor of London’s £3.15bn affordable housing deal secured from government in November last year, which will see 90,000 new affordable homes started by 2021.

Mr Khan called for more housing associations to follow L&Q’s lead and take on similar projects before he announces other large-scale partnerships when further funding is allocated in the summer.

The Mayor of London, Sadiq Khan, said: “For far too long, London has not been building enough homes. This has meant that Londoners born and raised in our great capital have struggled to rent and stood little or no chance of owning a home in their own city.

“I welcome L&Q’s commitment and significant investment in building new and genuinely affordable homes for Londoners. This announcement today demonstrates real progress on the long road towards tackling London’s housing crisis and signals my intention to work with housing associations to deliver thousands of homes with at least 60 per cent being affordable. I urge other housing associations to work with us to get on and build the homes London needs.”

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