The end of March figures from the GLA show just over 12,500 affordable housing starts over the year, principally as a result of the first £1.7 billion of the Homes for Londoners programme (£3.15bn) feeding through into delivery.
Richard Brown, Research Director at Centre for London said:
“Housing affordability is a critical challenge for London, undermining fairness and threatening prosperity. These figures show an impressive achievement, considering the first major allocations of the Homes for Londoners programme were made less than a year ago. It is also a valuable boost to housebuilding in London at a time of market uncertainty.
“Almost a third of the 90,000 affordable homes that the Homes for Londoners programme promises have now started on site, but City Hall and their partners will have to speed up over the next three years to meet the overall target.”