Centre for London and the G15's members have jointly addressed an open letter to UK Housing Secretary Michael Gove, offering solutions to the housebuilding crisis in the country's capital, London.
Centre for London is an independent think tank while G15 represents the city’s housing associations.
The letter, signed by G15 chair and L&Q Group chief executive Fiona Fletcher-Smith, outlines a series of recommendations aimed at addressing the city's housing shortage and the associated social and economic challenges.
It calls for a £15.1bn ($19.04bn) annual commitment to the Affordable Homes Programme (AHP) over the next ten years.
The letter's proposals also include an increase in government investment in social housing, suggesting the construction of 90,000 social homes annually across England, with 30,000 of those in London.
It stresses that the proposed 11% increase in homebuilding capacity on brownfield sites is insufficient to meet the city's needs.
The G15 data reveals a decline in the construction of affordable homes, with a projected 76% decrease in new starts this year compared to the previous year.
This drop reflects broader development cuts both within and outside of London from 14,658 units annually to 6,387 in 2024.
The letter emphasises that housing is the main contributor to various challenges in the city, including public health, environmental sustainability, economic equality, and productivity.
Additionally, it proposes the establishment of Development Corporations to build on select green belt areas, with the potential to create nearly 900,000 new homes near well-connected train stations.
In addition, the letter suggests the creation of an Affordable Housing Commission.
These recommendations aim to end the short-term policy approach that has dominated housing policy, the body argues.