45,000 new homes to be built in London by 2018

The Mayor of London has allocated more than 50 housing providers funding worth £404m for building more than 45,000 homes in London boroughs by 2018, a news report in the local business media was able to reveal.

These latest allocations will open a total investment of £4.23bn into house building in the capital and will see almost half of London’s boroughs run their own development programme with funding from City Hall and 11 housing associations running large scale construction programmes of over 500 homes each.

Furthermore, the Mayor is taking forward five bids for a portion of a further £85m to establish an innovative revolving fund, that could see up to 5,000 homes built over a longer-period by ‘recycling’ investment.

The revolving fund bids, including one from the Big Issue Invest and another from Mill Group, are part of the Mayor’s drive to attract wider sources of investment to support house building and develop longer-term funding packages with individual providers.

Mr Johnson said: “The only way to address the huge demand for housing and tackle the 30 year back log of under supply is to build more homes. We’ve worked closely with expert housing providers to ensure this funding will deliver much needed low cost homes across the capital.

“These latest funds, together with innovative measures to unlock land and development being pioneered by City Hall, will produce thousands more good quality affordable homes for Londoners to rent and buy. We will continue to work with the Government, developers and investors to drive forward and deliver the thousands of homes needed in the capital.”

Any residential developer will likely have to bolster its staff in order to keep up with the higher demand or employ a large number of sub-contractors. Time & Attendance UK has an extensive experience in implementing extensive time and attendance systems for a wide variety of companies actively involved in different sectors, including here the construction segment.

We offer a complete smart card time and attendance system that includes European Working Time Directive checking and reporting, Access Control, Fire Roll Call, and also makes good use of mobile and wireless technology so that your time and attendance information can be accessed from anywhere.

Moreover, our specific position within this market segment, as well as proven experience in the field enables us to thoroughly customize our systems in order to meet all of your requirements, whether you’re an enterprise customer with multiple sites or a smaller business.

Smart card technology allows your employees to quickly clock in and out, with the time and attendance software accurately recording attendances.

Furthermore, our all-in-one, proximity Smart Card Time & Attendance recording workstation incorporates such features as job booking, job costing, labour hours analysis and security management.

If you want to find out more about the range of affordable, reliable solutions provided by Time & Attendance UK, just contact our dedicated product team, they’ll be more than happy to answer any question you might have.