It is the third time a burst water main has caused flooding in London in a week, with residents in Islington affected last Tuesday.
Residents were met with torrents of water flowing down the street and into their homes in Blackheath, south-east London, yesterday.
Alan Scott posted footage of residents wading through the water in Stoke Newington today, with the caption: "FLOOD!!! Stoke Newington right now. It's chaos."
Other residents who were left stranded in their flats shared photographs on Twitter, with Sarah Nurse writing: "Absolute carnage outside our flats! #stokenewington #flood #stranded!"
Thames Water said it had stopped the flow of water in Stoke Newington, adding that it was working with the London Fire Brigade to reduce the impact of flooding.
Bob Collington, director of Thames Water, said: "It has been an extremely difficult week and, having visited and spoken to a number of those impacted, I am personally devastated for those customers who have suffered flooding so close to Christmas.
"We are doing everything we can to help them and will make sure they are not left out of pocket for what has happened.
"The bursts are a clear reminder that we need to keep investing in our ageing and sometimes fragile network, with many pipes in London well over 100 years old.
"I have started a full investigation into recent events to understand what has gone wrong and, as a top priority, will look at every single way possible to reduce the risk of any further disruption."
A London Fire Brigade spokesperson said several basements in the area were underwater following the burst pipe.
Station Manager Nicol McCallum, who was at the scene, said: "Crews used specialist inflatable boats to evacuate the most vulnerable residents and help others recover valuables.
"Firefighters laid down sandbags to try and minimise the water damage."
She added that emergency teams were working to divert water away from homes and businesses.
Hackney Police advised the public to avoid the area following the flooding.
