It is understood another 5,000 new-build homes will need to be started in the next 4.5 months if it is to be met.
In June 2013, the GLA stated at the Assembly's Budget Monitoring Sub-Committee that to reach the target by the end of March 2015, around 9,000 new-build starts would be needed by this autumn. Only a third of these had been confirmed by the end of September.
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At the meeting, Richard Blakeway, Deputy Mayor for Housing, said there was no "guillotine point" for new starts, but his colleague David Lunts, Executive Director for Housing, confirmed that building new affordable homes takes at least 12 months from the first spade hitting the ground. On average, a new-build will take 18 months from start to completion.
Darren Johnson, Chair of the Housing Committee, said: "The chance of the Mayor meeting his affordable homes target of 55,000 homes by March 2015 is looking increasingly vulnerable as the months march by with little progress made on the number of homes actually started.
"London is facing a housing crisis with demand outstripping supply. Over the next few months, we need a rapid increase in the number of homes started on site. The Committee needs to see real evidence that the Mayor can still meet his pledge to build 55,000 affordable homes that are vital for Londoners."
(CD/JP)
