Boris ‘will fail to hit target on affordable homes’

HOUSING experts cast serious doubt today over Boris Johnson's ability to meet his target of securing 50,000 new affordable homes for the capital.

The Mayor's plan to build the homes by 2011 has been hit by the short supply of capital to the public and private sectors during the credit crunch.

A panel of experts predicted it would be "extremely challenging" for Mr Johnson to deliver on his election pledge.

The majority of the group – representing councils, housing associations, developers and the new government-funded Homes and Communities Agency – went further, saying it would be impossible to reach the target.

Dale Meredith, development director of the Southern Housing Group, told the London Assembly's housing committee: "Is it technically deliverable? Yes. It is realistically deliverable? Well I would say it's really, really challenging to the point it's not really going to be possible.

"The credit crunch has meant that our access to long term finance has been very much restricted and it costs us more than it did before."

However, the experts said it would be wrong to abandon the target as there was growing demand for affordable housing.

Sir Bob Kerslake, chief executive of the new Homes and Communities Agency, said: "I don't think we should give up on it yet, simply because need is there and we should all try and do our level best to deliver it."

Mr Johnson's director of housing said the Mayor remained committed to his target. Richard Blakeway added: "We are asking the Housing and Communities Agency to develop innovative models for delivery in the capital to meet the new circumstances."