London Mayor Sadiq Khan has overseen building of only a fraction of the affordable homes needed in the Capital.

New figures released by the London Assembly show that against an estimated annual need of 45,500 homes, only 8,184 were actually built in 2024 to 2025.

At the same time, more than 43,000 affordable homes that have been started are still awaiting completion.

Target missed

The revised affordable housing starts target for 2021 to 2026 was missed – at 14,335 against a target of 17,800 to 19,000.

In addition, nearly four in five homes begun under the programme were for social rent rather than private tenants.

Affordable housing delivery is still falling far short of what London needs.”

Lord Bailey, Chairman of the London Assembly’s Housing Committee, says: “Affordable housing delivery is still falling far short of what London needs.

“Even after targets were revised downwards, they were not met. That reflects the severe challenges facing housebuilding in London, but it also raises important questions about what must change if future programmes are to succeed.”

Tom Copley, Deputy Mayor for Housing and Residential Development, admitted more help was needed for first-time buyers.

He told Inside Housing the Government should consider a new version of Help to Buy.

Lowest level

Meanwhile, the number of new builds coming to market nationally is at its lowest level in almost a decade.

Rightmove said the number of housing developments listed on its site is the lowest since 2017, excluding retirement schemes.