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Affordable Housing in London - Essay Example

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Affordable housing policy has over time been the dream for the Londoners to find a sustainable solution to the housing challenges affecting this great city. In 2014 for instance, London housing strategy recognized that there is need to bring together adequate resources to enable London the development of 42,000 houses per year. This aims at virtually doubling the housing delivery for London. The strategy recognizes the need to collaboration between governments, the private sector, mayor and boroughs. There is need for a policy framework that promotes support bringing up of surplus public land, as well as in promoting institutional investment to see London deliver the necessary housing. The London housing strategy under section 3.2 provides for policy reforms to create a flexible market and promote the growth of intermediate housing. The London policies have tremendously changed over time and in 2014, a policy to see increased housing deliveries involved the following (GLA, 2014):Policy 1: the mayor of London city is expected to work with other partners to deliver the planned target for London which is 42,000 houses per annum. The policy provides for 25,000 market homes; 17,000 affordable homes that people can rent or buy; and 5,000 of the market homes shall be for purpose-built. This will include the long term private rent especially on the schemes which have more than one phase. Policy 2: the period of 2015-2018 as an investment period will see the mayor deliver 15,000 affordable homes each year. ...Show more
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Summary

 This essay explains some of the current changes that have been experienced in the affordable housing policy in London and the possible solutions that can lead to affordable housing within this great city. To address this housing problem, London has undergone several policy changes…
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