New funding for London housing construction jobs

28/07/2011 16:00:00

London's leading housing associations have allocated new funding for building homes in the capital, which is also likely to stimulate local construction recruitment.

The Homes and Communities Agency last week allocated £350 million to the G15 group of housing associations under its broader £1.8 billion affordable housing programme.

Now the G15 have themselves announced that they will invest £2 billion of funding derived from private and other sources over the next four years into construction work on more than 13,000 new affordable homes in London.

Keith Exford, the group's chair, remarked: "G15 associations are now in negotiation over contract terms and subject to reaching agreement on a number of important detailed points, we have shown we are willing to put our balance sheets on the line to help provide the housing so desperately needed by Londoners."

It is the government's intention that construction work will take place on 170,000 affordable homes nationwide by March 2015, of which approximately 90% are expected to be delivered by housing associations.

Construction jobs in London

• Print this page
• Forward to a friend