Funds for social homes

Government announced £2 billion investment to support social and affordable house building. £400 million of that was allocated to London in addition to £100 million in the budget last autumn. All projects funded will need to start by March 2027 and finish by June 2029. City Hall has been asked to allocate the funds to prioritise social rent homes.

London Councils estimates boroughs spend £4m every day on temporary accommodation. This spending has jumped 68% over the past year and boroughs are forecast to overspend their homelessness budgets by more than £270m in 2024-25, a figure which has doubled over twelve months.