The Mayor holds much needed significant new housing and regeneration powers. Despite being a prosperous city, London has the country's biggest housing problems. Londoners are in urgent need of family-sized social rented homes to tackle the capital’s chronic overcrowding problems. The Mayor is committed to a city where there is more affordable housing and housing is of higher quality, where acute housing need is tackled, and where there are greater opportunities for social and economic mobility.
From the 1 April 2012, the GLA took responsibility for programmes, functions and funding from the Homes and Communities Agency (HCA) London region, London Development Agency and London Thames Gateway Development Corporation, through devolution powers set out in the Localism Act 2011. The GLA will invest over £1.9bn in affordable housing property from 2012 through to 2015.
The information shown on the map includes both homes funded through programmes directly managed by the GLA (and formerly by the Homes and Communities Agency) and homes funded through other sources and programmes. Affordable housing is the sum of social rent, affordable rent, intermediate rent and low cost home ownership.
Key point: The total number of affordable homes increased by 23% in 2011/12 compared with the year before. In 2011/12 Tower Hamlets had the highest number of new affordable homes (1,800) followed by Hackney (1,020). Redbridge had the fewest (30). If the last three years are merged, Tower Hamlets has a far higher total than Hackney in second place, while Kensington and Chelsea has the lowest.
The mix-adjusted house prices data published in these tables are based on a sub-sample of RMS data. These results will therefore differ from results produced using full sample data.
Key point: The average house price is currently 92% higher in London compared with the rest of the UK. House prices are not only higher in London compared with the rest of the UK, but also increase at a faster rate - 8% over the last year compared with just 2% outside London. Over the last five years property prices have only increased by 4% in the rest of the UK compared with 17% in London. The average mix-adjusted house price in March 2013 for London was £398,000, up £3,000 since the previous month. First time buyers paid 6% more for homes in March 2013 compared with the same month a year before, while former owners paid 9% more over the same period. For the UK as a whole, first time buyers paid 3% more than in the previous March, whilst former owners paid 5% more.
The LDD holds permissions involving a loss or gain of residential units along with large non-residential schemes that propose either 1,000m2 of floorspace in any one use class or 7 bedrooms or more for hotels and care homes. This takes no account of the size of the permissions, so for example, even if permissions are falling, if the average size of each development is increasing, the total number of units could be increasing.
Not all of these permissions represent a new scheme as they may be a revision to, or renewal of, a previously approved project. The data is provisional.
Key point: The number of permissions averages 404 per month over the past two years. March 2012 saw a big peak of 920 permissions. The last 12 months saw a total of 4,641 permissions, down 8% on the 12 months before, though the figures are subject to change, and final figures for recent months are likely to be higher than this.
Summary of monthly rents recorded per 12 month rolling period. Data updated quarterly by local authority areas for England. The release presents the mean (average), median, lower quartile, and upper quartile gross monthly rent paid for a number of bedroom/room categories.
Key point: Median rents have increased by 7% in London in Quarter 4, 2012 compared with the same quarter a year previous. The England average did not change over the same period. The median rent was £408 more in Inner London compared with Outer London (41% higher), whilst rents have increased by 5% over the past year in Outer London, and 8% in Inner London.