Thursday, November 20, 2008
BORIS Johnson has announced plans to create 50,000 affordable homes and kickstart the housing market
The Mayor said he wanted to build the ambitious total, including 30,000 social housing units, within three years. The £5 billion scheme will attempt to get middle-income families on the property ladder and ditch previous mayor Ken Livingstone's target that all new schemes are 50 per cent affordable. Mr Johnson said: "These plans aim to put London on a strong footing for the eventual upturn in the housing market." The scheme will see: ● Stalled developments receiving public money to go ahead, in return for providing affordable homes. ● Unsold new houses being bought and made affordable. ● More flexible schemes for existing social tenants who aspire to own their own home. ● An increase in the number of family-sized homes available to rent or buy.