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Tory mayor candidate vows to build 100,000 homes for young Londoners

City AM logo City AM 22/11/2020 21:00:41 Stefan Boscia
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Young Londoners will be able to buy new homes for £100,000 in the capital with a deposit of just £5,000 if Tory mayor candidate Shaun Bailey is elected next year.

Bailey will announce tomorrow that if victorious in the May poll that he will build 100,000 "Millennial homes" that can only be bought by young Londoners.

Read more: Shaun Bailey accuses Sadiq Khan of wasting nearly £10bn of TfL cash

They will all be "shared ownership" properties, where up to 10 people can buy a share in the newly built homes.

The Tory mayoral candidate will make the announcement in Erith, South East London.

He is expected to say: "The overwhelming majority of Londoners want to own a home and the mayor of London's job is to help make that happen.

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"But over the last four years, Sadiq Khan mostly built homes for renting, not buying - locking a generation of Londoners into rented accommodation, unable to save for a deposit.

"So during my first term as Mayor, I'll fund the construction of 100,000 millennial homes to be sold at £100,000 each."

Bailey is expected to say that the policy is "personal" for him.

Read more: Exclusive: Sadiq Khan's PR budget soars by 33 per cent in four years

"I spent parts of my twenties homeless, wondering whether I'd ever get on the housing ladder," he will say.

"Shared Ownership was the first step on the housing ladder for me and my priority is to give more young people the same opportunity too."

The post Tory mayoral candidate pledges to build 100,000 homes for young Londoners appeared first on CityAM.

22. marraskuuta 2020 23:00:41 Categories: City AM

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