Affordable Housing Monitor 2022

The Mayor was granted £4.82 billion in government funding to build affordable homes in London and he committed to build 116,000 by 2022, which has been extended to 2023. He then received a further £4 billion for the new Affordable Homes Programme (AHP) for 2021-26, where he committed to 35,000 affordable housing starts and a greater proportion of homes for social rent.

The London Assembly Housing Committee has published its annual 'Affordable Housing Monitor' for 2021-22. The report tracks how much progress the Mayor has made in delivering affordable homes in London.

Key statistics in the report include:

• In order to meet the target of 116,000 homes, the Mayor will need to build a record number of 25,000 (22 per cent) homes in 2022-23.
• Since 2015, 91,000 homes have been started towards the 2016-23 target (78 per cent).
• No homes have yet been started from the 2021-26 Affordable Homes Programme.
• There were 10,252 affordable completions in London in 2021-22. 
• An estimated 8,329 people were recorded as sleeping rough in London in 2021-22, although this is a 24 per cent decrease compared to 11,018 people seen in 2020-21, it is still 29 per cent higher than the total of 6,437 people recorded rough sleeping in London ten years ago, in 2012-13. 

The report concludes:

• The Mayor has started a record number of homes this year, at 18,722 homes.
• But this will have to be surpassed in the final year of the programme - a record 25,000 homes in 2022-23 in order to reach the Mayor's target of 116,000 starts. This represents a 33 per cent increase. 
• London needs around 31,000 homes each year at social rent levels.
• The Mayor has emphasised that the new AHP for 2021-26 will deliver more homes at social rent level, with over half of the 35,000 starts expected to be of this tenure type. However, there will be 70 per cent fewer houses built under the AHP during 2021-26 compared to the previous programme.