London’s housing completions pushed past the 40,000 mark last year, according to the latest GLA statistics. The 16% increase in new homes on the previous year was owing entirely to the private market, with affordable housing seeing a fall in completions, compared to 2015-16 calendar year.
The year-on-year trend is highlighted here. Both markets saw huge falls between 2009 and 2011. Since 2012 however, the gap between the private and affordable markets has continued to widen. Private home completions have gone from a low of around 12,500 completions in 2010-11 to 33,642 last year, whilet affordable completions have actually fallen.
Last year, private homes made up 83% of all housing completions. The total amount of homes falling within affordable brackets has gone from a high of 41% in 2011-12 to just 13% last year.
Tower Hamlets is way ahead of other boroughs in terms of housing supply. The graph below shows all completions across the last three-year period. The east London borough delivered more homes than Westminster, Camden, Kensington & Chelsea and Hammersmith and Fulham combined.
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