 The proportion of affordable homes is falling says the report |
The share of new affordable homes has dropped despite "ambitious" targets to increase them, according to a new report by the London Assembly. One third of the 27,364 new homes in 2004/05 were affordable compared with 45% of the 20,000 built in 1997/98.
"Housing provision is falling behind ambitious targets," said Tony Arbour, of the assembly's planning committee.
The study said many schemes are failing to meet the mayor's call for 50% of new developments to include social housing.
The report, Size Matters, said affordable housing does not help with developers' profit margins.
"The increase in house building correlates with the increase in house prices," said the report.
"However, the percentage of affordable housing as a total of all housing built is declining.
"As developers increase the amount of housing, a decreasing proportion of it is affordable."
Mr Arbour, committee chairman, said: "Our research highlights that in many boroughs, housing provision is falling behind ambitious targets."
He said in order to meet their targets, developers were supplying only the smallest units - which have the lowest value.
"We found that there is a surplus of some 12,000 one-bedroom properties, but a shortfall of over 28,000 two, three and four bedroom dwellings for which there is the greatest need," he said.
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The percentage of affordable housing as a total of all housing built is declining
