London Mayor Boris Johnson has more than doubled the number of affordable housing starts in the capital in less than a year and remains on track to deliver up to 100,000 affordable homes for working Londoners over two Mayoral terms, boosting the capital's construction industry and creating thousands of jobs.

In 2012/13 10,092 homes were started, more than double the number achieved in the previous financial year. In addition, a total of 8,114 affordable homes were completed.

Having delivered a record number of affordable homes in his first term, the Mayor is now on track to deliver a further 55,000 in the 2011/15 investment round. At the half way point he has already completed over 25,000 affordable homes.


Earlier this month the Mayor secured a minimum of £750m for London in the Budget, to help boost new build construction and support thousands more mid-income Londoners to buy their own home through low cost finance. This is in addition to the £100m already pledged as part of his ‘Housing Covenant’ to stimulate the market, cut red tape and broaden the range of low cost home ownership products available.

The Mayor is continuing to call on the Government for London to retain the huge Stamp Duty Land Tax receipts generated by property sales in the capital to re-invest in house building and regeneration. The receipts would give the city the continuous stream of funding needed to boost supply of this vital infrastructure and increase confidence in the market.

(CD/H)