Starter Homes

Meeting: 
MQT on 2015-09-16
Session date: 
September 16, 2015
Reference: 
2015/2875
Question By: 
Nicky Gavron
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

A recent report from Shelter found that the Starter Homes programme will not help the majority of people on the new National Living Wage or average wages onto the housing ladder. Considering current house prices, how many families in the capital on average wages will be able to benefit from the programme?

Answer

Answer for Starter Homes

Answer for Starter Homes

Answered By: 
The Mayor

The number of families in London on average wages who will be able to afford Starter Homes depends entirely on where they seek to buy a home and what type of home they seek to buy. The Shelter report you quote analysed people trying to buy the average priced home in their local area whereas we know most first time buyers inĀ  London buy in cheaper areas and at well below average prices.