The Mayor has unveiled his housing manifesto with an appeal to first-time buyers priced out of the market.
He has pledged to maintain his policy that 50 per cent of new developments should be affordable and claimed that the rate of house-building in the capital has almost doubled since he became Mayor in 2000 to 33,000 last year.
Conservative candidate Boris Johnson has also promised 50,000 new affordable homes by 2011 but has offered to “ease” the 50 per cent quota in order to encourage development.
But Mr Livingstone said: “I am determined that the thousands of young people who cannot get on the property ladder will have the chance to own their own homes.
“Unlike Boris Johnson whose policies would have the affect of concentrating housing in high priced and luxury development pricing housing out of the hands of ordinary Londoners.”
Mr Livingstone will also promise to ensure that a “much larger proportion” of new affordable homes for rent are suitable for families with at least three bedrooms.