Prospective homeowners in London are set to benefit from a new funding scheme unveiled by the Mayor of London.
Boris Johnson has announced a funding package intended to create 3,000 new
affordable homes in London.
The scheme has been launched in conjunction with the Homes and Communities Agency (HCA), which will use £42 million to deliver discounted rental properties for Londoners to live in until they are in a position to buy.
Mr Johnson explained that this announcement was the first major step in tackling the housing crisis and creating jobs in the capital.
"As this rolls out thousands of construction sector jobs will be saved but more importantly the sector will emerge strong to build and grow London when the recovery comes," he explained.
An additional £93 million will also be allocated to develop more sites over the next year by the HCA.
Chair of the London Assembly's environment committee recently urged the government to make it simpler for those living in the capital to insulate their homes.
See Also: Property News (5994)
Date Published: 04 March 2009
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