We use cookies to track visits to our website, we store no personal details.

Home » News » Blog » Planning For Affordability

Planning For Affordability

Blog Featured Image7

 

In December 2017, the Mayor of London, Sadiq Khan, published his Draft New London Plan, a comprehensive document designed to build a city fit for the future for all Londoners and is underpinned with the concept of 'Good Growth'.

The London Mayor's vision is to create a city which is socially and economically sustainable and, with an emphasis on the protection of the green belt, a city which will be a greener, healthier place to live. 

 

London Mayor Sadiq Khan: "With London's population expected to increase by 70,000 every year, reaching 10.8million in 2041, it is vital that we properly plan for growth with new affordable homes in every area of the capital."

 Blog Featured Image 8

The Plan sets out the regulatory framework for housing development across the capital and, in time, all London boroughs must adapt its policies into their planning guidelines. 

Central to the Draft New London Plan is London's housing market, in particular, plans to address the urgent need for more affordable housing in the capital.

With London's predicted growth boroughs in east London have seen huge growth, and housing supply is not keeping up with demand. According to population models based on new housing data from the Greater London Assembly, the population of Newham has risen by an estimated 20,000 since 2014. In Tower Hamlets, growth has been even greater, rising by an estimated 25,000 over the same period. 

 View Newsletter 173

 

New Homes For A Growing Population

To meet demand, 66,000 new homes will need to be built across London each year, an increase of 24,000 per year from the previous London Plan Target.

Currently, 29,000 new homes are built in the in the capital per annum. This is less than half of the current target, and the Mayor is clear that there needs to be a more concentrated effort, with some boroughs being asked to double or even triple their speed of house-building to meet targets. In total 650,000 new homes are due to be built in London by 2029. 

Blog Image Within Content5

Banbury Park, Billet Road, London E17

 

Affordable Housing 

Fundamental to this delivery of new homes is the condition that a percentage is genuinely affordable for working Londoners.

Our affordable housing team, led by Gary Powis, remains active in the east London residential development scene. Advising on Banbury Park in E17 for Circle Group, the new scheme has delivered 351 residential units in an even split of private and affordable tenures. 

Sadiq Khan has stated that new developments on private sites must have a minimum of 35% affordable housing. This figure rises to 50% on public sector land and relevant industrial sites. The Draft Plan sets an eventual strategic aim that 50% of all new homes must be affordable. The level of affordable housing can still be argued through the Development Viability Toolkit, as set out in The National Planning Policy Framework (NPPF) and Planning.

Blog Image Within Content6

 Although still only a draft plan, east London boroughs, such as Waltham Forest, have ambitious plans to deliver genuinely affordable housing. Its objective is to ensure that on council-owned sites, 50% of new homes will be affordable, divided into 60% at social/affordable rents and 40% intermediate/low-cost homeownership units.

According to figures included in the annual London Plan monitoring report, east London boroughs are leading the way in delivering affordable housing. Official data compiled for the London Mayor shows that Waltham Forest has delivered the highest percentage of affordable new homes, while Tower Hamlets has seen the highest total number built 47% of all new residential dwellings completed in Waltham Forest between 2013 and 2016 met the definition of affordale. Tower Hamlets delivered a total of 1,830 affordable homes, 29% of the total number of homes built in the borough.

This is a positive sign, and an increased focus on affordable housing in east London is resulting in further action with numerous schemes being developed across the boroughs. 

 View Newsletter 173

 

 Planning and Development News...

Newham:

Development On Edge Of Queen Elizabeth Park

 

Blog Image Within Content9

Construction on a new 183 home development on the edge of Queen Elizabeth Olympic Park has begun. Located on Penny Brookes Street, just a few minutes away from both Stratford International Station and Stratford Station the New Garden Quarter development will feature a range of one, two and three bedroom homes and is due to be completed by summer 2019.

 Tower Hamlets:

 

 Olympic Legacy Housing Approved

The proposals for Clock House and Access House, south of the Olympic Park in Bromley-By-Bow, were approved by the London Legacy Development Corporation (LLDC). Series of buildings ranging from one to 27-storeys in height to provide 3,570mof flexible community, commercial and retail floor space at ground and mezzanine floor level.

Blog Image Within Content 4

Hackney:

26 New Affordable Homes Unanimously Approved

 

Blog Image Within Content 5

Hackney Council has ambitious plan to increase the amount of housing within the borough and the Pedro Street Development is the latest project to secure planning. In total, more than 400 new council homes will be built at 14 locations as part of the Council's Housing Supply Programme.

 

To learn more about east London developments and various boroughs of focus, keep a lookout for our quarterly east London newsletter, or contact the team on contact@strettons.co.uk