Major cash boost for front line services
Published: Friday 26th January 18
Wandsworth is to receive a payment of nearly £13million from the government to spend on services and keeping Council Tax low after seeing one of the highest numbers of new homes built in London.
The New Homes Bonus payment is the second highest in England, and comes after more than 2,000 newly built and formerly empty properties came into use in the borough in the year up to October 2017, and is set to be spent on frontline services for residents and helping keep Council Tax low.
During the 12-month period 88 empty homes were brought back into use, while 326 for low cost rent and shared ownership were also built.
Cllr Ravi Govindia, Leader of Wandsworth Council, has recorded this message to the borough about what the windfall will be spent on
Developments contributing to this annual total, the third highest in inner London, include Nine Elms, in Battersea, where it was announced recently that all 116 shared ownership homes in the Riverlight development have been bought by people living or working in Wandsworth, and cheaper than renting privately.
Construction is also under way in Putney, Tooting and Battersea as part of the council’s 1,000-home building programme, with more than 60% as council and shared ownership homes and the rest for sale to help pay for development. The Building Homes for Wandsworth People housebuilding initiative also has the support of the Greater London Authority (GLA).
Cllr Clare Salier, Cabinet Member for Housing, said: “While Wandsworth has a strong record on delivering new homes, we’re committed to doing much more to meet the aspirations of people living and working in the borough – this is why we’ve already started work on one of the biggest council housebuilding programmes in the country.”
Cllr Govindia added: “By enabling regeneration and development to take place the council ensures a steady supply of new homes for low cost rent, shared ownership and for sale, as well as receiving this welcome New Homes Bonus funding to support our services.”
To find out about new affordable housing schemes sign up for the council’s weekly e-newsletter at www.wandsworth.gov.uk/e-news
More about Wandsworth Council and housebuilding:
· More than 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 through the regeneration of the Alton estate, in Roehampton, and Winstanley and York Road estates, in Battersea, guaranteeing newly built homes for all secure council tenants and owner-occupiers on their estates
· Cllr Ravi Govindia, Leader of Wandsworth Council, is a member of the Mayor of London’s Homes for Londoners Board
· Mayor of London, Sadiq Khan, referred to Wandsworth Council as a ‘fantastic example’ of local authority housebuilding during the Mayor’s Question Time of 19 October, 2016
· Last year 90% of shared ownership homes in Wandsworth were bought by people living or working in the borough, and the council is one of only a few local authorities to prioritise in this way
· With shared ownership, buyers only pay a deposit on the value of the percentage being bought, so a 5% deposit on a 25% share works out as a 1.25% deposit on the total property value