Cash boost for affordable housing delivery
Published: Wednesday 4th January 17
Wandsworth is to receive a payment of more than £13million from the government after seeing one of the highest numbers of new homes built in London, including the second largest total of affordable housing.
Interior of shared ownership home at Viridian's Riverlight development, Nine Elms
The New Homes Bonus payment comes after 1,923 newly built and formerly empty properties were delivered in the borough in the year up to October 2016, and is set to be spent on frontline services for residents and helping keep Council Tax low.
It’s the capital’s fifth highest amount of homes for the 12-month period, including 486 for low cost rent and shared ownership, and with 43 empty homes brought back into use.
Cllr Paul Ellis, Cabinet Member for Housing, said: “This is further evidence that our approach of enabling development gets results, with more and more homes for low cost home ownership and for below market rent being built as a result.
“New affordable homes are crucial to the success of the council’s Aspirations programme of initiatives which help people into employment, training, high quality housing and home ownership, as well as sporting and cultural opportunities.”
As part of the council’s Aspirations programme, 3,000 new homes for shared ownership, social renting, low cost rent, market rent and for sale are to be built by the council and partners at two major estate regeneration schemes in Roehampton and Battersea, which guarantee newly built homes for all council tenants, leaseholders and freeholders on their estates. In addition, 300 new council homes are to be built in the next three to five years.
The council’s housing strategy target is to ensure a minimum of 18,000 homes are built in Wandsworth during the next ten years, and it is expected that the high number of affordable homes delivered in the past 12 months will be repeated in the coming years.
To find out about new affordable housing schemes sign up for the council’s weekly e-newsletter at www.wandsworth.gov.uk/e-news
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486 out of 1923 is only 25% low cost/shared homes, which doesn't sound like much to celebrate. Over the next 10 years, WBC "aspires" to 3,000 out of 18,000, or 16%. We are told nothing about the remaining 75-85% of the new properties and how they will contribute to genuine housing need. The suspicion is "negligibly", since most is vastly overpriced and aimed at absentee investors (until the bottom finally drops out of that market). We are expected to swallow the argument that the only way to get affordable housing built is at the cost, including the opportunity cost, of these "ghost" developments. Why not publish ALL the information, and let us decide if it's (a) convincing and (b)worth celebrating.Ann_P
7 January 2017
I currently owned 50% of my property with my brother owning the other half. He is looking to move out. Does your shared ownership scheme work on existing properties? I wouldn't like to stay where I am but can't afford to sell and then rebuy in the area.Scott
6 January 2017