Councils across the UK have a big challenge on their hands when it comes to managing housing and other developments. They need to ensure they get the best results for the area and locals. So, each authority has to have a Local Plan. They also need to ensure it is up to date. Some councils are really proactive in this regard. We want to look at one today that is planning a big change. Then, if you want to arrange guaranteed rent in Wandsworth, you can rely on us.
The change
Wandsworth Council’s Local Plan is relatively new. It was adopted in 2023 after several years of work and rounds of consultations and reviews. Crucially, it details the vision and strategy for developing the borough from 2023 to 2038.
One of the Plan’s original goals was to ensure delivery of more affordable housing in Wandsworth. As a result, there is a requirement that large new developments are 35% affordable. This is in line with the target set by the Mayor of London in 2016.
The Council is now proposing a change that would increase the requirement. It would mean that developers have to ensure 50% affordable housing on all new developments. The Mayor of London said this should be the strategic target for all councils in the city in 2021.
A key thing here is the move to ensure all developments have to meet the target. It means that even small projects with fewer than 10 homes have to be 50% affordable.
Why the change?
We’re one of the most dynamic property experts in London, offering solutions like guaranteed rent in Wandsworth for clients. As a result, we keep a close eye on proposals like this, the reasoning, and the possible impact.
The Council said they are proposing the change to make a “fairer, more compassionate borough”. They want to tackle housing inequality and prioritise the needs of residents’, particularly affordable, family size homes. The ultimate goal is to resolve an acute shortage of genuinely affordable homes.
With that in mind, the council is aiming to ensure that a large amount of the affordable housing be for social rent. In fact, their preference is for a 70/30 split, with seven of every ten affordable homes on all new development being for social rent. The council would own and manage these, providing more secure homes for locals and helping to tackle the housing waiting list.
What next?
The idea for the change to the Local Plan recently got approval from Wandsworth’s councillors. Next there will be a formal public consultation period to gauge the response from locals, developers, and other stakeholders. The aim is for it to open early next year.
Following the consultation period, the plans will go to the Government. They will have the task of examining them and deciding if they can go ahead. If so, the change to the Local Plan can happen.
Do you want guaranteed rent in Wandsworth?
Our goal here is to ensure that clients can get the most reliable solutions for their assets. We can tailor services to suit any needs, including different types of residential properties. Most importantly, we guarantee rental payments so there are no loses or cash flow interruptions.
If you want the best service, speak to us about guaranteed rent in Wandsworth. We’re happy to provide details and explain everything. Then, if you want to set things up, we can do it and ensure you get the first rental payment in around ten days.
