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Housing Today
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Sadiq Khan to divert AHP development grant into buying 10,000 existing private homes
Challenging market sees Mayor shift partially away from development towards helping local authorities buy homes on the open market for council housing
The Mayor of London will use money originally intended for new affordable housing developments to fund councils’ acquisition of homes on the open market to use as social housing or temporary accommodation.
The Council Homes Acquisition Programme (CHAP) will see a significant sum of funding diverted from the existing £4bn Affordable Homes Programme. Khan says it will provide an extra 10,000 council homes in the next decade.
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