Andrew Dismore

Dear editor

 

The Prime Minister’s big housing announcement at the Conservative Party Conference – removing Government funding for affordable rent properties and ploughing it into ‘starter homes’ for purchase – is nothing but a disaster for Londoners.

 

Of course we need to build new homes but they’ve got to be affordable. Look at the detail and it’s clear the new ‘Starter Homes’ are nothing of the sort. The homes will be built by private builders and sold at 80% of market prices, which we already know from bitter experience are not ‘affordable’ for most Londoners looking to buy their first home – 80% means up to £450,000.

 

Earlier in the year, housing charity Shelter reported that ‘Starter Homes’ would be unaffordable for a couple on even above average salaries in Barnet. In Camden it is even worse – they will be unaffordable for a couple in  the top 10% of salaries bracket. For single earners looking to get on the property ladder, the Starter Homes will be unaffordable to all but the top 10% of earners in every single London borough.

 

Earlier in the year the Housing charity Shelter found that Starter Homes would be in Camden. In fact for single earners looking to get on the property ladder, the Starter Homes will be unaffordable to all but the top 10% of earners in every single London borough.

 

Not only will these new homes not be affordable for those on very high incomes in the capital, the Conservative Government is going  to raid already inadequate affordable housing budgets to pay for them, resulting in fewer really affordable homes being built.

 

Yours sincerely

 

Andrew Dismore

Labour London Assembly Member for Barnet and Camden