More homes for shared ownership completed in London

Published: November 21, 2007

Figures have been published which show that a record number of new homes for shared ownership were completed last year in London.

The capital's major, Ken Livingstone, released the data, which indicated that there were 4,686 new 'intermediate' or shared ownership homes built in the city between 2006 and 2007.

"High London house prices mean we have to require developers of new housing to provide more affordable home ownership opportunities as well as homes to rent," Mr Livingstone explained.

"My tougher targets for affordable housing are helping to make many more lower income Londoners homeowners."

The mayor also set out new proposals for big further increases in the number of shared ownership opportunities for Londoners. These will mean 21,000 more shared ownership homes are constructed between 2008 and 2011.

They also included plans to increase the number of family sized shared ownership homes in the city.

Shared ownership can help people who have previously had credit problems get on the property ladder and find the best mortgage deals.