Bexley has fewer affordable new homes than any other London borough, according to new research
PUBLISHED: 07:00 22 February 2018
Bexley has fewer affordable new homes than any other London borough - but also has one of the lowest poverty rates.
The findings come from new figures revealed by charity Trust for London and the New Policy Institute, whose report states that Bexley built fewer affordable rented homes between 2013/14 and 2015/16, and is one of only two boroughs where the level of affordable rented housing reduced in this three year period.
However, the findings also show that Bexley has a low poverty rate, with 16pc of residents living below the poverty line - the lowest of every borough except Bromley and Richmond.
This is also less than the London average of 27pc.
The data comes from the new London’s Poverty Profile, which measures how boroughs are performing on a range of indicators.
The cost of cheaper housing in Bexley is equivalent to just under half (47pc) of a low earner’s salary – making it the most affordable London borough after Havering.
However, the amount of affordable rented housing in Bexley decreased by 198 homes in the three years, the worst rate in the capital.
This figure does not include shared ownership accommodation, which increased by 205 homes over this same period.
Combining the two reveals a 1% increase in affordable rented housing and shared ownership in Bexley, which is the smallest increase in London.
This suggests that the positives on affordability could be under threat unless more affordable housing is built.
Mubin Haq, director of policy and grants at the charity, said: “There is a huge disparity in the numbers being built in each borough.
“At present Bexley is bottom of the table, with only 1pc of its new homes being affordable.
“This is due to change with the development in Thamesmead, which should lead in an increase in the number of affordable homes.
“The cost of renting in Bexley isn’t as high as in many parts of London, which makes the borough more affordable for those on lower incomes. “Nevertheless, demand for housing is huge across the capital and every borough needs to make a contribution to improving the situation.”
If you value what this story gives you, please consider supporting the Bexley Times. Click the link in the orange box above for details.