London is built on a vibrant mix of people from all walks of life, yet the capital is increasingly unaffordable for many.
The G15’s Room to Grow campaign shines a light on the real social and economic value created by London’s affordable homes, and the not-for-profit housing associations that provide them.
A series of data-led and research stories will look at how homes get built, who pays, how residents benefit, net zero, the stigma associated with social homes, and how Government can help create more room to grow for Londoners, London and the UK as a whole.
Our first story looks at the financial value created by London’s social homes. The new G15 research, using G15 member Hyde and Sonnet Impact’s respected Value of a Social Tenancy (VoST model), reveals that housing associations currently provide 289,000 social rent homes in the capital, each of these homes contributes an average of £23,777 in value annually, totalling almost £6.9 billion every year. Providing homes for the 323,800 households on London’s social housing waiting list, would inject an additional £7.7 billion a year into London and the UK’s economy.
The research also reveals London’s top ten boroughs for social and economic value. And it’s not the areas you might think.
For more details on the Room To Grow campaign and how housing associations can work in partnership with the Government to address the housing crisis, visit the campaign homepage.
