Meeting London’s Housing Need

London Population Shape m m Mid m Elphicke/ GLA

In Summary What councils do and can do Powers and assets to be Housing Delivery Enablers Understanding housing needs context for whole market and for growth  Growth/Demographics  Wellbeing and community building  How well articulated, how accessible is it Understanding housing delivery context  Blocks and barriers: how can the council help  Who can help councils to deliver homes in partnership Build, build, build (and help to … build)

Housing Need – 326 councils c million = waiting lists c.1.1 million = overcrowded homes c.1 million = additional homes since Barker % of Councils with Shortage of Homes? 5.8% 16,100 homes 18/ 19 London c.40% brownfield = London Councils = c.150,000 homes capacity c. £1 billion HRA headroom + prudential + s106 commuted sums/ other funds Money, Land, Leadership

Housing Delivery Enabling - Examples Land:  Selling land under deferred consideration (buy now, pay later) arrangements  Selling fixed term long lease interest now and retaining the value of the freehold interest  Converting land consideration into an investment in a development partnership Planning:  Using master-planning and permissioning their own/acquired land  Flexibility in the planning process  Working with neighbourhood planning/ community led discussions Building: full tenure and creating cross subsidy Elphicke-House Report 2015

More Housing Delivery Enabling Examples Minimising sales risk/ supporting strength of finance  Guarantee purchase agreement, whereby a council agrees to buy completed homes from a developer if a buyer cannot be found on the open market  Nominations agreements for tenants  Financial assistance to purchasers of new developments Finance  For others: By providing development finance at commercially attractive rates of return  For themselves: Creating a council housebuilding ‘fund’ with ‘in lieu’ contributions Skills, local knowledge, technical knowledge, networks Elphicke-House Report 2015

Are we doing enough to meet London’s Housing Need ??

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