London's affordable housing target slashed by 22%

London mayor Sadiq Khan and the government have announced a reduction of more than 6,000 homes from the city’s Affordable Homes Programme.

The Greater London Authority (GLA) and the Ministry of Housing, Communities and Local Government have adjusted London's target for the Affordable Homes Programme for 2021-2026 "from the previous range of 23,900 to 27,100 starts".

The revision down to a new target range of between 17,800 to 19,000 homes marks a decrease of 22%.

Deputy Mayor for Housing, Tom Copley, said that Khan is "taking the hard decisions to improve housing supply of all tenures".

The GLA cited high construction costs, noting that London is “by some accounts” the most expensive city in the world to build in.

It said the decision "responds to the difficult conditions London currently faces and will allow the GLA to ensure the delivery of more schemes and complete the maximum number of affordable and social homes in the 2021-2026 programme".

The GLA says it aims to deliver "at least the mid-point of target range" of 17,800 to 19,000 new homes" by 2026.

This marks the second time the housing targets have been reduced, having previously fallen from 35,000 to 23,900 in 2023.

The announcement also comes as annual data shows that the number of affordable homes being started in London last year was the second lowest on record at 3,991.

To date, only 5,188 affordable homes have been started in the region, meaning more than 12,000 more homes are still needed to meet the government's target by 2026.