Drop in London's new affordable homes being built

The G15 reported a 66% drop in new affordable homes built in London, with only 4,708 new builds starting in 2024–25 compared to 13,744 two years prior. This decline is part of a broader housing crisis, as the number of completed homes also decreased from 10,356 to 9,200. The G15 calls for urgent measures in the upcoming government spending review to address barriers to housing development, including a 10-year rent settlement and full access to the Building Safety Fund. Vice Chair Ian McDermott described the current environment as a "perfect storm," citing increased building costs and safety standards since the Grenfell disaster. City officials and the government are actively working to tackle these challenges, with the Mayor proposing new strategies to enhance housing supply, such as utilizing parts of the green belt for development.

The G15 emphasizes that these proposals could help meet the demand for 88,000 new homes annually, addressing the urgent need for affordable housing. Recent research revealed that a third of Londoners have faced damp and mould, compounding the housing issue. The report's release coincides with the government's spending review in June, amplifying its significance.