|Upturn In New Homes Built In Wandsworth|
Figures have doubled in last year with surge of new investment
Latest house building figures reveal a strong upturn in the number of new homes being built in Wandsworth.
Work began on a total of 887 homes in Wandsworth in 2010, more than double the previous year's total of 387.
The figure remains below pre-recession levels (1,179 in 2006.
The upward trend looks set to continue in 2011 with construction work beginning on major schemes including the latest phase of the Riverside Quarter at Point Pleasant and Barratt Homes' Osiers Road development.
The number of new homes to achieve planning consent also shot up in 2010. Plans for 2,372 residential properties were approved last year, up from 920 in 2009. This marks an almost complete return to the 2006 level when permissions for 2,603 new homes were granted.
Applications to build a total of around 6,000 new residential dwellings are currently working their way through the planning pipeline. With several developers in the Nine Elms opportunity area poised to submit large scale applications this number could grow considerably in the coming months.
Wandsworth Council's strategic planning spokesman Ravi Govindia says:
"A wave of new residential development is now underway across the borough and the jump in planning applications suggests the increase will be sustained at least into 2012. We can take nothing for granted at this early stage but these are very encouraging signs for Wandsworth.
"In particular our regeneration zones, like Nine Elms and Wandsworth Town, are experiencing a surge of new investment. Several major schemes have now been approved in these areas and more are expected to enter the planning pipeline before the year is out.
March 22nd, 2011