Olympic Homes (Supplementary) [5]

Session date: 
February 20, 2008
Question By: 
Jennette Arnold
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

The issue that we should really be raising with you is about the definition about affordability, because I think there is an issue here. I have a problem with the general use of affordability because clearly what is affordable to the people who support Tony Arbour ' wherever that is ' that is different to, say, members of my constituents and the people of east London. It is that that I would like some more work done on. Will you be looking to do some more detailed work about affordability so that we can link affordability with income in a locality? It seems to me that that is the issue that we need to be looking at and getting some answers from you on.

Supplementary To: 

Answer

Answer for Olympic Homes (Supplementary) [5]

Answer for Olympic Homes (Supplementary) [5]

Answered By: 
The Mayor

On the issue of affordability I think we need to be absolutely precise. For the 35% of the housing on a site which is built for sale, this should be by housing associations at normal housing association rents. The 15% of intermediate we are trying to get down because at the moment I think a lot of that is still requiring a joint income of £60,000 or £70,000. We are trying to get that down, so a couple on a joint income of £35,000 can start to get their foot on the ladder. That will be a big breakthrough. I think we are close to achieving that with the Government. That is why we should all be very grateful that Gordon Brown's government dramatically increased housing subsidy for London from £3 billion over the next three years to £4 billion and gives us enough money to build 50,000 affordable homes over three years. We have not seen anything like that since before Mrs Thatcher stopped building council housing.