London Affordable Housing Summit
Rise up and join the voices of 1 million Londoners
Affordable Housing is a critical issue for global metropolis. London is facing a housing crisis, driven by growing population and declining house-building numbers – leading to surging house prices, homelessness and other social problems.
London’s population has topped 8.6m, the highest since its 1939 peak. Among which, Hillingdon has had the greatest projected growth in population; 44% of the city’s population are now of black or ethnic minority origins. Mayor Boris Johnson said the figure was predicted to reach 11m by 2050.
On the other hand, house-building numbers during the same period have been at historic lows. Housing associations are not making any more lettings than they did a decade ago, while local authority lettings have fallen. The reduced number of affordable homes available through housing association urgently needs to be addressed.
Londoners can no longer afford to live in London and home ownership is becoming a distant dream for young people. Our thinking as a country needs to shift, around home ownership and property values. We need to think to the future.
Uprise Policy Forum, Intelligentqh.com and the OpenBusinessCouncil.org invite citizens and stakeholders to engage with policy makers, investors, the leaders in urban planning, construction, architecture, sustainability,design and the built environment. Over a day, we will co-create and build a sustainable strategy for a London Affordable Housing Plan.
This will be handed to the main mayoral candidates, No 10 and Treasury to help frame policy and facilitate the co-working that needs to happen to shift City Hall out of stasis into action. It is community-based, people-powered policy making in action.
Keynote: Lord Victor Adebowale , Chair London Fairness Commission & CEO Turning Point (invited)
Guy Battle, CEO The Social Value Portal, Founder Battle McCarthy Civil Engineers
Mayoral Candidates , 7 minutes each on ONLY their affordable homes policy – no slides, no speeches, no grandstanding.
The Social Policy
– The Good and their Great Ideas
CIVA ( Centre for Innovation in Voluntary Action)
London Fairness Commission
What can be done to lift us from housing scarcity?
Places for People / Affinity Sutton
tp bennett architects / Thomas Heatherwick
Land Securities / British Land / Balfour Beatty
Who pays and why?
HSBC / Lloyds – head of Real Estate
Allia Charitable Bond/Co-op
Big Issue Invest
Crowdfunder Property Moose / Property Partners/ Property Crowd / Crowdcube
Blackstone Property Fund
London Affordable Housing Crisis – Key Statistics
1.4 million households – more than three million people – on council housing waiting lists
61,970 households are in temporary accommodation – a 21% increase compared with 2010
Among which, 90,450 children are living in temporary accommodation
Average London property costs £503,431, 14 times of a Londoner’s average earnings of £35,238 a year
1/2 private renting housing benefit claimants in London are working, compared to 1/3 in the rest of England.
Londoners have to save £179,248 for their deposit on an average London property costing £503,431, where average earnings are £35,238 a year. A Londoner’s average rent bill is £1,500. Home ownership is being reduced to an unachievable aspiration
The Housing Benefit bill for London reached £6bn in 2015
Housing benefit claims in London peaked in 2013 at 850,000 and fell to 820,000 in 2015. The social rented sector accounted for 560,000 claims and the private rented sector 270,000.
In London, renters are having to find £3,735 by way of a deposit and estate agent fees before moving into new accommodation
In the year up to April 2014, 42,870 affordable homes were built in England, lowest amount built in any year since 2004/5.