The authority says the move will reduce its reliance on expensive nightly-paid hotels and bed and breakfasts.
There are currently around 970 homeless households in the borough, and the bill to support them last year was £9.3 million net.
The authority says that cost is due to rise this year.
Kingston Council’s Portfolio Holder for Finance Councillor Richard Thorpe said the plans would save a substantial amount of money and better support vulnerable families.
“This is fantastic news. Our proposal to buy 50 homes to use as temporary accommodation has the potential to save the borough up to £750k a year by reducing our reliance on nightly-paid accommodation. This will deliver better value for money for residents, as well as more appropriate self contained housing for homeless families.
“We have worked closely with landlords, hotels and bed and breakfasts to supplement our housing supply, to ensure we meet our statutory duty to support homeless people, and we are grateful for their partnership. But with the homelessness crisis across London continuing to be one of the biggest challenges facing local government, we have to find more cost effective ways to meet the needs of these vulnerable people.
“The proposal to purchase properties is part of the council’s comprehensive plan to create a fairer borough, supporting vulnerable residents while also addressing the financial challenges we face.”
