In total, £115m of City Hall funding has been secured with the plan to make 60% of the 5,000 homes genuinely affordable to buy and rent.

Two-thirds of the proposed homes are aimed at first-time buyers and will include homes for London living rent and shared ownership.

Mr Khan said: “It is simply unacceptable that hard-working Londoners who fuel the economy of our great city are left in a position where they struggle to make ends meet.

“Londoners know that fixing the housing crisis will be a marathon and not a sprint, but I am determined to do everything in my power to deliver more new and genuinely affordable homes to buy and rent.

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“It was fantastic to see first-hand how my new London living rent is really helping Londoners afford to rent a home in the capital and crucially begin saving to get themselves on the property ladder.

“I welcome Hyde’s commitment to delivering these historic London living rent homes and investing in our new partnership to get on and build more new affordable homes for Londoners.”

This news comes as Mr Khan visited County House in Beckenham, where tenants have begun to move into the 76 London living rent homes managed and owned by Hyde Housing Association.

The London living rent is aimed at helping middle-income earners save for a deposit by providing below market rents, based on a third of average local wages.

Rents at County House are set at £965 per month for one-bed properties and £1,072 for a two-bed properties.