Mayor Sadiq Khan announces London Living Rent scheme
The Mayor of London has announced plans to offer newly-built affordable homes to certain private renters at below-market rents.
The London Living Rent scheme would see low and middle-income households being offered new homes with rents set at a third of average household incomes.
Sadiq Khan said it would provide "an alternative to renting privately" and allow people to "save for a deposit".
But the Conservatives called the scheme "another feat of illusion".
According to the mayor, a household typically earning between £35,000 and £45,000 would be able to a rent a two-bed London Living Rent flat for less than £1,000, compared to average private rents of £1,450.
However, he could not say how many homes would be available under the scheme as "it depends on how much land comes forward".
Tony Devenish, the Conservative planning spokesperson, said the mayor was "attempting to distract Londoners with spin instead of real answers".
"The only way to slow down the increase in rental prices is to build far more homes," he said.
Green London Assembly Member Sian Berry said the capital needed "something more sophisticated" as there was a risk of people "being left behind by this policy".
"An arbitrary definition based on a third of the local average income will leave many women and families with children still struggling," she said.
Mr Khan made the announcement during a visit to the Sugar Hill housing development in Harlem, New York, as part of his five-day business trip to North America.