In the election battle for the Mayor of London seat the two front runners from Labour have unveiled plans to make housing more affordable in the capital.
Former cabinet minister Tessa Jowell said if elected she will introduce “rent to buy” - where every payment would go towards buying a home, without the need for a deposit.
Tooting MP Sadiq Khan has proposed a “London living rent” which would link a person’s rent to one third of their average income - therefore making it easier to save to buy a property.
Most Londoners on the average wage would need to save for at least 10 years to get a deposit for a home.
Ms Jowell told the Evening Standard: “We cannot take our economic success for granted —without action on homes, London’s economy is at serious risk. A city which cannot retain its talented workers cannot retain its status as a great city.”
Among her pledges for London housing were to build “real communities” and not just new houses, more help for buyers, fairness for renters and finding a way to reduce the amount of empty homes in the capital.
Rival Mr Khan believes London Mayor should have the powers to freeze rent rises and there should be a not-for-profit lettings agency that could name and shame inadequate landlords.