Wandsworth Council wants to build 18,000 homes in the next ten years.
They say it's in response to years of undersupply and rapid population growth.
It's part of the 'Wandsworth Housing Offer' and aims to provide a broader range of types of home and to improve housing standards.
If approved, it will be a 60% increase on their previous home building target.
"Our key objective is to sustain a significant increase in housing supply with a focus on providing opportunities for the diverse range of households living and moving here.
This includes older householders, the sons and daughters of our existing residents and the young singles and couples who make up an important part of the borough population."
House prices in a third of all London boroughs fell in November, compared to the previous month. That's according to the LSL/Acadata house price index. Southwark experienced the biggest average price drop of 3.1%, while Hounslow recorded the largest average rise of 4.3%.
Typically the capital and South East lead the way in price growth but it was stronger growth in other areas which pushed the average house price up by 9.6% in England and Wales last year to £278,997.
The borough of Kensington and Chelsea recorded the highest average price in London of £2,006,778 in November, down 1.3%. At the other end of the scale is Barking and Dagenham, where the average home costs £222,033.
House prices in five UK cities have been rising faster than in the capital.
Findings by Hometrack found house price growth in London slowed by two-thirds in the last quarter to 0.5%. That is compared to 1.4% three months ago.
Meanwhile property in Edinburgh, Glasgow, Southampton, Bristol and Birmingham rose at a faster pace in the three months to November.
Edinburgh (1.8%) and Glasgow (0.9%) registered the fastest house price inflation in the last quarter, as demand fed back into the market post-referendum.
The greatest reversal was seen in Aberdeen (-0.4%) and Cambridge (-0.2%), but Oxford (0.3%), Cardiff (0.2%) and Bournemouth (0.1%) also showed pronounced slowdowns.
Is a bargain price worth living in such tiny space? A flat so small you have to climb up a ladder to get into bed has sold for a rare £100K.Read the full story ›
You've been giving us your thoughts on the Mayor's approval of plans to redevelop the Royal Mail site at Mount Pleasant - where affordable rents could be set at up to £2,800 per month for a family home.
Is he off his head !!! affordable to whom.Get real Boris.!!!
Stupid prices , I don't even earn that amount in a month , all he is doing is pushing the normal working class people out of London !!!! Disgraceful
I was born and bred in Islington, moved out 16 years ago couldn't afford to live there then!!
In what world is £2800 a month affordable. If people could afford that, they could afford to buy somewhere!
I live in Islington, and THAT is not an 'affordable' rent! What part of 'affordable does that excuse for a mayor not understand?? To call that an affordable rent beggars belief!!
London is in desperate need of truly affordable decent housing and Boris failed in his duty as Mayor today by approving this planning application.
Boris says he is committed to delivering affordable housing for Londoners, but he has no idea about what that actually means for people working in the capital.
It's an absolute travesty that postmen and women working just next door will be priced out of this luxury development at Mount Pleasant.
Mayor Boris Johnson has approved a plan to build 700 homes on the site of the former Royal Mail sorting office at Mount Pleasant in Islington.
The plans have come under fire from councillors after a report was leaked showing that affordable rent levels could be set at as much as £2,800 per month.
A leaked report on the redevelopment of the Royal Mail site at Mount Pleasant in Clerkenwell reveals that the Mayor plans to charge up to £2,800 per month for 'affordable' flats.
Boris Johnson is expected to grant consent for the development today.
The new site would contain 98 'affordable' rent apartments - with the report suggesting tenants could be charged £1,170 per month for a one bedroom flat, up to £1,690 for a two bedroom and up to £2,800 per month for a four bedroom family home.
The Guardian estimates that a family living in one of the four bedroom flats would need an income of £100,000 to make it affordable.
It's making a complete mockery of the term 'affordable'.
Boris Johnson doesn't really understand social housing in London - or he doesn't care - either way, Londoners are missing out on a great opportunity here for more affordable housing in the middle of London.