Seema Malhotra – 2015 Parliamentary Question to the Department for Communities and Local Government

The below Parliamentary question was asked by Seema Malhotra on 2015-12-14.

To ask the Secretary of State for Communities and Local Government, if he will estimate the proportion of people in London who will be able to afford to (a) rent and (b) buy a home in 2016.

Brandon Lewis

My Department does not produce estimates on the proportion of people who will be able to afford to rent or to buy a home in London.

The Spending Review doubled investment in housing to more than £20 billion over the next five years to support the largest housing programme by any Government since the 1970’s, including:

  • £4 billion for 135,000 Help to Buy: Shared Ownership homes, which will allow people to buy a share in their home and increase that equity over time;
  • £2.3 billion towards delivering 200,000 new Starter Homes, which will be available at 20 per cent discount to young first time buyers;
  • £1.6 billion for 100,000 affordable homes for rent;
  • £12 billion of additional housing investment to provide thousands more homes, including expanding Help to Buy in London where the scheme will increase equity loans up to 40% instead of the standard 20% to support thousands of aspiring homeowners in the capital.