Tessa Jowell has put the rent-to-buy sector at the heart of her agenda for London housing.
The Labour mayoral hopeful said: “We can’t turn on the supply overnight, but we can build homes where every payment goes towards owning your own home, without the need for an up-front deposit. I will introduce a major new programme to significantly expand rent-to-buy.”
She also laid out plans for forcing the release of public land and introducing longer leases and a certification scheme for private rental sector landlords.
It was also stated that a bill was being drawn up to give the mayor more powers to cap rents.
Jowell’s speech elaborated on her proposed Homes for Londoners agency, which would have six strategic goals:
- Mobilising all of London’s resources to produce a step change in the number of homes being built
- Investing in an apprenticeship programme to build the workforce and skills in the construction industry
- Pushing for the rights of boroughs to intervene in the private rented sector to drive up the quality of homes
- Bring home ownership within reach of Londoners through the rent-to-buy programme
- Work with boroughs and use mayoral powers to incentivise home owners to bring empty homes back into use
- Create communities through high-density housing projects with supporting infrastructure
Jowell said: “We cannot take our economic success for granted; without action on homes, London’s economy is at serious risk. A city which cannot retain its talented workers cannot retain its status as a great city.”
