There is a housing crisis in London, with an urgent need for new homes in every borough to meet demand. Some areas are better at increasing supplies than others. Impressively, one borough has been top of the shop for building affordable homes for three years in a row. We want to take a closer look here, then you can rely on us if you need to arrange guaranteed rent in Greenwich and other areas in the city.
Success story
According to the data, Greenwich started more new affordable housing in the borough in 22/23, 23/24, and 24/25 than any other area. Crucially, work began on building 608 homes with subsidies from the GLA. As a result, the borough is steadily increasing supplies and providing high quality properties for local people.
It’s also notable that Greenwich was very successful with the number of new homes reaching completion. Last year an impressive 790 properties were given over to residents, hundreds from the Council’s waiting list. That was the second highest total in London.
A spokesperson for Greenwich Council said they were incredibly happy with the results. They are continuing to work to create a new generation of council housing. Crucially, they want to build homes that are “truly affordable”, linking rents to incomes in the local areas to provide secure, accessible homes. They also thanked the GLA for subsidising the projects to help deliver the properties.
Greenwich Peninsula
In another great piece of news, a project for Morden Wharf got the green light for a change to their plans. Originally getting permission in 2022, there has been an update to the proposals because of increases in construction costs and changing building regulations. Speak to us about investing and guaranteed rent in Greenwich.
The plans by Galliard Homes will create 1,500 homes in the South-West part of Greenwich Peninsula. The initial proposal was for 35% of them to be affordable. However, they have had to reconsider this. Plus, earlier in the year the GLA agreed to measures to reduce the demands on projects to get them moving. So, the plan is now for 20% of the homes to be affordable. Crucially, the GLA also gave confirmation that grant funding will be available.
Another key thing to note is Galliard has confirmed that registered affordable housing providers in Greenwich are interested in delivering it. This was a key requirement from the Council. They initially chose to defer making a decision on approving the plans until they had confirmation.
Why choose guaranteed rent in Greenwich?
A lot is changing in Greenwich, including a complete transformation of the Peninsula. The borough is becoming an even better place to live, seeing the creation of new housing, amenities, transport links, and more. As a result, it’s a really good time to think about investing.
If you do commit to putting your money into property, you can rely on us to support you. Crucially, we help to navigate some of the biggest pitfalls, including tenancy problems and voids. They can have a massive impact on your cash flow, and could even leave you out of pocket if you need to cover costs without anything coming in.
The best way to protect your interests is to arrange guaranteed rent in Greenwich or other areas. We can do it for you, so get in touch and learn more.
