Average annual net housing completions in London by planning authority (2016/17 - 2018/19)
On average, 29,960 net completions were added to the housing stock in London between 2016/17 and 2018/19. The vast majority (85%) were for the private market and an average of only 980 net completions were made for social rented properties.
The boroughs completing the most new homes include Southwark, Croydon and Barnet. However, boroughs vary greatly in both their size and in the availability of development opportunities. Boroughs are set targets in the London Plan for how many homes they should be delivering each year and this figure gives a sense of the potential for new buildings in each borough. In addition to the targets set for the boroughs. The London Legacy Development Corporation is responsible for delivering homes in the Olympic Park in East London, taking on the housing target for that area from the boroughs of Hackney, Tower Hamlets, Waltham Forest and Newham. A similar arrangement is going to be in place around the Old Oak Common development in West London.
The targets in the London plan are not the only measure by which to assess the pace of new building in London. However, with fewer than ten boroughs meeting their old targets (set in 2016), only two meeting the new targets (set in 2021) and the city-wide target not being met, it is clear that in general, not enough homes are being built in London.
This slow increase in the supply of housing in London is a factor behind problems including housing affordability, overcrowding and homelessness.