London Mayor launches ‘London Living Rent’

The London Mayor, Sadiq Khan set out the first details of his plans for ‘London Living Rent’ this week, while on a visit to the new Sugar Hill housing development in Harlem, New York City, all part of a five-day business trip to Montreal, Chicago and New York to spread his message to the US and Canada that London is open for business and a key destination for investment and tourism.

‘London Living Rent’ will be a new type of tenancy for newly-built affordable homes that will help average earners in the capital save for a deposit by offering them a below-market rent.

Further details of the new programme will be released in the coming months, but the Mayor has already begun working with housing associations and boroughs to kick start the delivery of new homes at these rent levels through their building programmes.

Sadiq Khan said: “We know that fixing London’s housing crisis won’t happen overnight, and we need to do everything we can to help Londoners who are struggling to pay their rents. That’s why I’m working with housing associations and councils to build new homes for ‘London Living Rent’ – homes that will offer hard-working, low and middle-income families an alternative to renting privately so they can get by and save for a deposit.”

Read the full report on the London.gov.uk website click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Living within 20 minutes of your local town centre could add £30,000 to your home’s value

The latest research from geo-location property platform, The Property DriveBuy, has found that homes within a 20-minute walk of their nearest town centre command a significant price premium, adding as much as £30,000 to property values. The Property DriveBuy analysed more than 24,000 homes currently listed for sale across England, comparing average asking prices for…
Read More
Breaking News

Most expensive homes sold so far this year

Most expensive homes sold so far this year revealed – where does your region rank? The latest research from global HNW finance brokerage, Enness Global, has found that whilst the wider UK property market may be treading water at present, high-end properties are continuing to change hands for eye-watering sums, with the top five most…
Read More
How to help out hoarders
Estate Agent Talk

Homeowner horrors that could wipe £54,000 off your property’s value

With Halloween on the horizon, nationwide cash buying company and quick sale specialists, Springbok Properties, has revealed the housing horror stories that could give sellers the biggest fright, with subsidence topping the list, knocking more than £53,000 off the value of the average UK home. Springbok Properties analysed 10 of the most common homebuyer turn-offs,…
Read More
Estate Agent Talk

£5m paid in SDLT on nation’s most expensive property

The latest research from global HNW finance brokerage, Enness Global, has found that whilst the wider UK property market may be treading water at present, high-end properties are continuing to change hands for eye-watering sums, with the most expensive homes sold across the nation going for as much as £41m – a purchase that comes with…
Read More
for sale sign london
Breaking News

New-build demand dips in Q3 as homebuyers sit tight ahead of autumn statement

The latest market analysis from Property Inspect has found that fewer than one in five new homes are currently securing a buyer, with homebuyer demand for new-build properties falling on both a quarterly and annual basis. Property Inspect analysed current market listings looking at what proportion of new-build properties are already marked as sold subject…
Read More
Breaking News

Rightmove celebrates 25 years of viral property moments

As Rightmove marks its 25th birthday, we’re celebrating the properties that stopped people mid-scroll, sparked thousands of shares, and became internet sensations. From a house with its own Tardis to a shark crashing through a roof, these homes prove that the UK property market is anything but ordinary. With billions of minutes spent on Rightmove…
Read More