On-screen look at 1,000-home housebuilding programme
Published: Friday 9th February 18
People wanting to find out more about Building Homes for Wandsworth People, one of the biggest council housebuilding schemes in the country, can now watch a two-minute Youtube video about the council’s borough-wide initiative.
More than 600 of the homes will be for shared ownership and low cost rent, with construction already well under way at sites in Battersea. All homes in the programme will be prioritised for people living or working in Wandsworth.
In the video primary school teacher Claire explains why she chose to buy a shared ownership flat, registering with the council online to receive priority as a local resident.
She says: “I would definitely recommend the shared ownership scheme and have done so to my friends because it’s a great way to get on the property ladder; affordable, and for everyone.”
With shared ownership, buyers only pay a deposit on the value of the percentage being bought, so a 5% deposit on a 25 per cent share works out as a 1.25% deposit on the total property value. Shared ownership can also work out cheaper than renting privately.
Last year 90% of shared ownership homes in Wandsworth were bought by people living or working in the borough, with Wandsworth Council one of only a few local authorities to prioritise in this way.
As part of Building Homes for Wandsworth People, rented council homes will be available starting from 35% of market rents, and council tenants living nearby and under-occupying their existing homes will be given the opportunity to ‘downsize’ into the newly-built council housing if they wish, with priority also given to overcrowded households.
Cllr Ravi Govindia, Leader of Wandsworth Council, also features in the video. He says: “What we’re doing is making sure that we do our bit, to ensure that people who made Wandsworth their home have a chance to buy a house, or to rent a council house.”
The £150million Building Homes for Wandsworth People programme has the support of the Greater London Authority (GLA) in City Hall, which has invited the council to bid for additional funding.
The first additional sites for the programme were announced last month. The rest of the homes will be built for market sale to help pay for the programme with priority given to local residents and workers. All revenue will be reinvested into building more homes for local people at discounted rates.
More on 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