Sadiq Khan sets out £250m plan to buy more land for new homes in London

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Sadiq Khan today set out plans for a new £250 million fund to buy land in London to build more affordable homes. 

The money raised from selling the land on to home-builders and developers would then be put back into the pot to fund further purchases.

But the Tories immediately branded his plans an “empty vessel” and said he had failed to explain where the original £250 million would come from.

The Mayor announced he would recruit technical “deal-making” experts for his Homes for Londoners team to help identify and prepare new sites. 

Officials confirmed funding had been found from within existing housing resources and would be in addition to a £3.15 billion housing deal from Government.

Mr Khan also promised to “bring together” private tenants and landlords to develop a new “London model” for renting. 

This would include “better rights and more security” for the one in four London households that live in the private rented sector — an increase of more than 200 per cent since 2004.

But the key to his strategy is the “comprehensive and urgent” devolution of more powers and funding from the Government to help tackle the housing crisis. There is little sign so far of ministers agreeing to do this. 

Mr Khan said: “I will use my powers and resources to their fullest extent, but Government needs to play its part too by giving London the powers and resources we need.”

Tory London Assembly member Andrew Boff described the Mayor’s housing strategy as “vague idealism”. 

Mr Boff added: “If the Mayor is serious about tackling London’s housing crisis we need details to support his plans. Anyone can write a wish-list.”

The strategy launch marks the start of a three-month public consultation.


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