Those buying property in London are set to benefit from an affordable housing agreement, it has been announced.
Mayor Boris Johnson explained that 14 of the capital's boroughs have pledged to deliver a total of over 16,750 homes, while the remaining 19 have identified a potential 20,500 more.
"This is extremely encouraging news for Londoners who are looking for their first step on the housing ladder and a much-needed boost for the construction industry during the current economic downturn," he said.
The mayor had promised to provide 50,000 affordable properties over three years and the agreements would bring that target three-quarters of the way to being reached.
Mr Johnson explained that each borough will be required to identify its own particular needs and decide which type of housing is most appropriate.
Last month the Scottish government revealed that it is bringing forward £17 million worth of funding, in order to provide more
affordable homes.
See Also: Property News (6705)
Date Published: 10 February 2009
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