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New targets for London homes

London's mayor Ken Livingstone has vowed to build over 50,000 new affordable homes over the next three years and to double the supply of homes for social rent.

The target for social rented housing with three or more bedrooms rises by 5 per cent to over 40 per cent of overall supply.

It is almost four years since the 50 per cent rule was introduced to demand that developers must ensure that half of their sites contain affordable housing.

A further suggestion to investigate building 30,500 new homes every year is also being considered.