The G15 has today published a report urging the new government to provide clarity on how much rent social landlords will be able to charge over the next decade.

The report highlights that housing associations save Londoners £4.8bn a year in rent and stresses that landlords require rent policy certainty to continue building new affordable homes, improving existing properties, and addressing the housing crisis.

Since the Conservative-led coalition government reduced funding for social housing by 60% in 2010, housing associations have become more dependent on income from private loans and surpluses generated by selling and renting homes on the private market.

However, the group of London’s largest housing associations emphasised that social housing rents remain their primary source of revenue, which is used to finance upgrades to existing homes and help fund the construction of new social housing.

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Fiona Fletcher-Smith, chair of the G15 and chief executive of L&Q, said that “London is built on a vibrant mix of people from all walks of life, but the capital is increasingly unaffordable for many”.

A study of rents across the city found that Londoners need to be earning £76,261 a year to afford the average private rent in the