Latest London Affordable Housing Numbers Today – But Something Just Doesn’t Add Up

Something very fishy indeed is going on and we must be forgiven, as the taxpayers that fund the £8bn London budget, for thinking that the books may be cooked?”

London’s City Hall today released their latest house building statistics for the 2019- 2020 financial year and Mayor Sadiq Khan swiftly grabbed the opportunity to take to Twitter to congratulate himself with the following message to his 3.2million followers:

“Last year was a record-breaking year for building new affordable homes in London” he said.

Except it isn’t true.

With Mayoral elections around the corner albeit postponed from this May until May 2021 no-one will blame an incumbent politician for reaching for promoting perceived glory and they may even be forgiven for a bit of spin here and there. However, this statement by the capital’s elected Mayor is not just spun, it’s plain deceptive.

The GLA numbers are split into two sections, ‘housing starts’ – a shovel in the ground or a piece of signed paperwork; and ‘completions’ – the actual delivery of a house that someone can live in. Frankly, you can’t move your sofa and bookcases into a ‘start’.

In 2019/20 as just closed, affordable housing starts were 17,256 and, yes, that’s a good number on the face of it. But, dig deeper into the GLA’s own numbers and you note that completions in the same year were just 7,775 homes.

Then, take a look back at the previous four years since Sadiq Khan took office and you see something very odd and it just doesn’t add up.

In the past four years the Mayor has overseen 51,771 affordable housing starts. But just 25,608 completions. One must ask, ‘where have all the houses gone?’.

Our Russell Quirk, Property Expert to MovingHomeAdvice is asking just that.

“We’ve all heard of the Bermuda Triangle and how it makes planes and boats disappear’ he says. ‘But no one would have guessed that there is a similar phenomenon in London where affordable housing is concerned.

In the four years of the current Mayor’s tenure only 49% of the affordable housing that was allegedly incepted, has actually been completed and clearly Sadiq Khan, election looming or not, has questions to answer over where these phantom dwellings have been lost.

Something very fishy indeed is going on and we must be forgiven, as the taxpayers that fund the £8bn London budget, for thinking that the books may be cooked?”.

In 2016 when Sadiq Khan campaigned for office and then also after he had won the election, he promised that he would deliver 35,000 affordable homes each year. This was then immortalised in his London Plan. Unfortunately, after four years of his tenure the facts are that he has delivered only 18% of that promise.

Questions will surely be asked especially by those on lower incomes that desperately need the affordable homes that the Mayor was elected to provide.

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Breaking News

A third of UK homes for sale are ‘chain-free’ reports Zoopla

Recent tax changes and incoming council tax premiums for second homes have unsettled property investors and second homeowners with some now looking to sell One week on from the Autumn budget, buyer enquiries for homes that are chain-free are 33 per cent higher compared to those not advertised as chain-free 41 per cent of two…
Read More
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker 06/11/24

The average 5-year fixed mortgage rate is now 4.66%, down from 5.33% a year ago The average 2-year fixed mortgage rate is now 4.92%, down from 5.76% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.69%, down from 5.40% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.05%, down from 4.91% a year ago The average monthly mortgage payment on a…
Read More
Overseas Property

Top reasons to consider buying a luxury villa in Phuket Thailand

Those who have worked hard for many years are often looking for ways to invest their cash so that they can enjoy life to the max in their advancing years. Some might decide to dabble in the stock market or insurance policies to enhance their savings, while others might look to purchase something more physical…
Read More
How to add value to your home
Estate Agent Talk

5 Top Tips for Running a Business From Home

Have you ever wanted to start and run your own business from home? Although it’s an incredibly rewarding experience, it can be tough to set up and know where to start, especially if you have no business experience or background! Whether you want to run a small business, or have grand ambitions for eventual expansion,…
Read More
Estate Agent Talk

The Importance of Time Management for Real Estate Investors

Time is one of the most valuable assets for real estate investors, especially when juggling multiple projects, clients, and market trends. Without a strong grip on time management, getting bogged down in tasks that don’t drive growth is easy. You see, every minute spent on admin tasks or low-value activities is a minute that could…
Read More
Estate Agent Talk

Transforming Your Condo into a Next-Gen Smart Home Experience

Gone are the days when we must get up to press a button on the TV to adjust the volume, use actual keys to unlock doorknobs, or turn a knob to control the air conditioning unit's thermostat. These days, all we have to do is sit pretty on our couches, let technology do its work,…
Read More