London Mayor Boris Johnson has launched a £100 million fund to help a range of housing projects across the capital and boost the trades.

House builders will have the chance to put their bids forward to deliver major building work which could boost the London economy by £2 billion and create new jobs in the construction industry.

According to the Mayor, injecting such significant investment in the housing market could contribute £1 billion worth of construction projects across the city.

The Mayor has said that all ‘reusable investment’ from this funding boost will be reinvested for the building of more affordable homes over the next decade.

Motor Johnson said “To improve the housing choices of those who work to make this city the fantastic place that it is, I am opening up the market, cutting red-tape and injecting £100million  worth of investment to stimulate supply.

“The programme we are announcing will not just unlock the door to home ownership for thousands more Londoners, it will give a welcome shot in the arm for jobs in the capital’s construction industry and spur wider economic growth too.”

The first homes are expected to be available for sale in early 2013 with completions ranging up until March 2016.