Sadiq Khan: I’ll be the council estate boy who fixes the Tory housing crisis
Earlier today (5/4/16) in a highly personal speech on the Henry Prince Estate in Tooting where he grew up, Sadiq Khan attacked the Tories’ approach to affordable housing in London as ‘completely out of touch with Londoners’ lives’.
Labour’s London mayoral candidate said: ‘This election is not just a referendum on the Tory housing crisis – it is a referendum on the type of homes we build in London’.
Sadiq revealed new research which shows that the average deposit for a home in London – now £108,813 according to Government figures – is bigger than the average cost of buying a flat outright in a third of England.
The average price of a flat or maisonette is lower than £108,813 in 108 out of the 326 local authority areas in England.
Labour’s Mayoral candidate criticised Zac Goldsmith’s £450,000 Starter Homes as ‘ludicrous’ – pointing to research from the housing charity Shelter, which shows Londoners will need to earn £77,000 a year in order to afford even the average Zac Goldsmith Starter Home.
Sadiq Khan talked of his own experiences of London housing – growing up on a council estate which meant his parents could save a deposit to buy their own home and sleeping on a bunk bed at his parents’ house until he was 24 while he and his wife saved for a deposit.
He also spoke about his worries that his teenage daughters will never be able to afford to live in the same area.
Sadiq Khan also contrasted Goldsmith’s plans to ‘build homes that most Londoners will never be able to afford’, with his own plans to build ‘homes that Londoners on average incomes can actually afford to buy or rent’.
These will include social homes, London Living Rent properties – with rent levels linked to a third of local income, and part-buy part-rent homes – with small deposits required and lower monthly costs.
Labour’s Mayoral candidate, Sadiq Khan, said:
“I will be the council estate boy who fixes the Tory housing crisis.”
“This election is not just a referendum on the Tory housing crisis – it is a referendum on the type of homes we build in London”.
On the new research:
“The Tory failure is so ridiculous that the average deposit for a home in London is now more than the average price of a buying a flat outright in a third of England.”
On Zac Goldsmith’s £450,000 Starter Homes:
“Goldsmith doesn’t get it – the idea that his £450,000 Starter Homes are ‘affordable’ is ludicrous.
“Even the average Starter Home will only be affordable to Londoners earning over £77,000 a year according to Shelter.
“Zac Goldsmith – let me tell you now – £450,000 is not affordable – you could not be more out of touch.”
On his plans:
“While Zac Goldsmith will build homes that Londoners will never be able to afford, I will build homes that Londoners on the average income can actually afford to buy or rent.’
“Social homes, London Living Rent Homes and affordable homes for first time buyers.
Average first-time buyer deposit in London is £108,813, taken from ONS House Price Index, Table 29, Nov. 2015. http://www.ons.gov.uk/economy/inflationandpriceindices/datasets/housepriceindexannualtables2039
Sadiq Khan will deliver the genuinely affordable homes to rent and buy Londoners need. In his Manifesto for all Londoners, he has committed to:
Deliver the thousands of new homes Londoners need with a target for 50 per cent to be genuinely affordable.
- Build genuinely affordable homes with a mix of homes for social rent, London living rent, and ‘part-buy part-rent’ to help struggling first-time buyers.
- Establish Homes for Londoners, a new team in City Hall reporting directly to the Mayor, dedicated to developing the affordable new homes that London needs, identifying more public land for development, and working with Councils, housing associations, and developers to secure finance and get building.
- Give Londoners ‘first dibs’ on new homes, rather than overseas investors.
- End Boris Johnson’s public land sell-off, and take direct charge of building new affordable homes on public land instead.
- Support London’s two million private renters with a London-wide not-for-profit lettings agency, by making the case for a London-wide landlord licensing scheme, and by taking action to create a public database to name and shame rogue landlords.