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New stats for 2021/22 show that 18,722 affordable homes were started by councils and housing associations in London, a 40% increase on the previous year’s figures and the highest number of starts since GLA records began in 2003.
The number of "genuinely affordable homes" completed across London rose last year too, with 10,252 completed in 2021/22, up from 9,051 homes the year before.
This is more than double the record low of 4,881 homes completed in the last year of the previous mayoralty in 2015/16.
Nearly 10,000 homes started in the last year will be available at social rent levels.
More affordable homes were started by providers in Southwark than in any other borough, with work beginning on 2,090 new affordable homes. Newham was the top borough for affordable housing completions, with 1,156 new homes finished by affordable housing providers and developers last year.
The Mayor of London, Sadiq Khan said: “I am delighted to be able to announce that record-breaking numbers of genuinely affordable homes are being built in London.
"Fixing the housing crisis is an enormous challenge, but these latest figures show that even in the face of the pandemic, Brexit and soaring construction costs, we are continuing to turn the tide.
“I would like to thank councils, housing associations and the wider London housing sector for their work in helping us to continue building a better, more affordable London for everyone.
“We have once again exceeded our annual targets, but we still have a mountain to climb. I urge the Government to recognise the progress we are making in London and to provide the additional funding for housing we need to go even further and faster.”
Geeta Nanda OBE, G15 Chair and Chief Executive of MTVH, said: “As the largest providers of affordable homes in London, we are committed to working with the Mayor, government, and our local authority partners to build the homes Londoners need.
"The rising costs of construction and other challenges mean that tackling the housing crisis is getting harder. We need to see a strong commitment from all involved to the future development of affordable homes in London.
"Without it, people in desperate housing need will continue to miss out on the benefits an affordable, safe, and secure home can bring.”
Cllr Darren Rodwell, Leader of Barking and Dagenham Council said: “Over the last four years we have built almost 2,000 council homes and in the next five years we will deliver at least another 2,000.
"It means we are London’s leading builders of council homes, giving stability and affordability to our residents in an era of rising living costs.”