Newspaper article The Evening Standard (London, England)

Less Well-Off Can Forget Kingston but the Capital Is Full of Eastern Premises

Newspaper article The Evening Standard (London, England)

Less Well-Off Can Forget Kingston but the Capital Is Full of Eastern Premises

Article excerpt

HALF the homes built in London this year may be occupied by poorer folk. That is not the conclusion of a comprehensive report published by London Residential Research this week.

That study of housebuilding across all 33 London boroughs simply shows that 38% of the 25,800 homes finished in 2008 were built for part-sale or rent by Governmentfunded housing associations.

What LRR obviously can't do is add up how many of the 18,500 part-completed private homes at the end of 2008 will end up as "social housing" by the end of 2009. But it will be plenty. That is because the Government's Homes and Communities Agency is pouring hundreds of millions into stalled developments across the capital.

That process involves the conversion of many unsold private units into affordable homes managed by housing associations. So it is not hard to imagine the result of the HCA's efforts pushing that 38% figure close to 50%.

Not that the City of London and the Royal Borough of Kingston upon Thames need worry about an influx of the less well-off. …

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