News

Sadiq Khan to divert affordable housing funds into buying existing private homes

By 2023-11-20T12:24:00

Sadiq Khan

Challenging market sees mayor shift 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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