Sadiq Khan hands £200m cash bonanza to capital's housing associations

London Assembly GLA

Source: Shutterstock

London mayor said grant funding will help groups switch homes from market sale or shared ownership to ones for rent at social or intermediate rent levels

The mayor of London is handing £200m to housing associations in the capital to help them speed up the construction of homes which have started to be built this year.

Khan said uncertainty around Brexit was hitting house sales, falling sales and uncertainty over house prices.

“This is having a knock-on effect on housing associations, who currently receive low levels of funding from government and rely heavily on income from selling new market-price homes to help subsidise new affordable homes.”

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