You are viewing 1 of your 1 free articles
Less than half of starts under London mayor’s AHP have been completed since 2015
Less than half of the homes started in London in the past eight years under the publicly funded Affordable Homes Programme (AHP) have been completed, new figures have revealed.
Of the 116,782 starts under the AHP 2016-23, 55,027 homes were completed, the London Assembly annual Affordable Housing Monitor report showed.
The report did not offer a reason for the slow rate of completions, but of late it has come amid soaring construction material costs and labour shortages since Brexit and the coronavirus pandemic.
The housing monitor report, published yesterday, said that London mayor Sadiq Khan “does not have a target” for when the remaining 61,755 homes will be completed.
However, the report quoted Tom Copley, deputy London mayor for housing and residential development, who said the “vast majority” are forecast to complete by 2029.
READ MORE
A record number of completions – 13,949 – were seen in 2022-23, the report said.
Mr Khan also hit a target of starting at least 116,000 homes by March 2023, partly subsidised by £4.82bn in government grant.
Mr Khan had previously committed to starting a further 35,000 homes between 2021 and 2026. However, the report said these homes have not been started due to delays and “challenging market conditions”.
Negotiations over the summer between the mayor and the government saw this target reduced to between 23,900 and 27,200 homes.
Mr Khan has said the new AHP will deliver more homes at social rent, with the aim for at least 60% to be this tenure.
A spokesperson for the London mayor said: “Unlike the government, Sadiq has met his 116,000 affordable homes target in full, putting London in a strong position to carry on delivering the affordable homes London needs.
“In addition, under Sadiq, London has completed more homes of all types in recent years than at any time since the 1930s and delivered higher council homebuilding than at any time since the 1970s.”
The spokesperson added that the 2021-26 housing programme was not signed off by the government until July this year, “meaning it was impossible for any new homes to be started in the first quarter of this financial year as a result”.
The government was recently forced to defend its delivery and funding targets for affordable homes after Mr Khan called for its reported underspend to be reallocated to the capital.
The mayor had called on the Department for Levelling Up, Housing and Communities to reallocate any unspent affordable housing funding to City Hall if it is unable to meet its national targets.
Sign up for our development and finance newsletter
Already have an account? Click here to manage your newsletters
