At Mayor’s Question Time tomorrow, Jenny Jones AM will question the Mayor about the high cost of "affordable" housing.
The value of an "affordable" three bed house rose by almost a fifth between 2008 and 2011, while average incomes have risen by only 1%. Research by Jenny Jones has shown that a couple with two children now need to earn between £51,993 and £70,000 a year, in order to afford a new three bed "affordable" flat in Homerton.
She said:
"The Mayor’s own figures show that there has been a significant increase in the sale value of "affordable" family sized homes, while earnings have stayed virtually the same. This means more people are getting into debt in order to afford homes. On top of this food and energy bills are soaring, making it a difficult time for families. The Mayor needs to focus on stabilising house prices in order to keep them affordable.
