Sadiq Khan is offering London boroughs the funding to start building 10,000 new council homes over the next four years. The London mayor has unveiled a £1.67 billion programme, Building Council Homes for Londoners, which aims to boost the number of local authority homes in the capital. The programme will offer expertise and funding to London boroughs to scale up their homebuilding programmes. It will also offer councils help to replace homes sold through Right to Buy with an innovative way to ringfence receipts. The controversial Right to Buy programme was introduced in 1980 and, according to Ministry of Housing, Communities & Local Government figures, it has resulted in 306,000 social homes sold by councils in London since 1980. During the same period, councils have built only 62,000 homes at social rent – equivalent to just one in five of those homes sold being replaced. The first deals under the Building Council … (To read the full article, subscribe below)

jamiehailstone

Jamie Hailstone is senior reporter – NewStart