Greenwich Council Proposes Buying 253 New Homes for Social Housing Amid Sharp Drop in Housebuilding
The homes would be offered for social rent, and come from three locations across the borough.
Greenwich Council is set to consider proposals to buy more than 250 newly built homes, and provide them for social rent, as part of an ongoing multi-million-pound program called Housing Our Greenwich.
If approved the plans would see 253 properties purchased across three developments (Royal Arsenal, Kidbrooke Village and Greenwich Millenium Village) and thereafter rented out to residents on the borough’s housing register.
A council spokesperson said: “If approved, this decision will enable the council to make further progress in addressing housing needs in the borough by allowing over 250 families and individuals to move into a stable, affordable and safe home.”
Greenwich, like most of London, is facing a period of sustained housing pressure, with Government data released this week showing that just 799 new homes were completed in Greenwich between April 2023 and March 2024. The figure marks the lowest completions since 2013, significantly down from the pre-pandemic peak of 3,531 in a similar period.
However, Greenwich Councils release claims the borough is one of the leaders in London for delivering affordable housing,with some three-quarters of developments in the Borough now qualifying as affordable. This means that rent for the properties are set at 80 per cent the market rates, with around a quarter of these homes let as social rent levels.
Data from the Greater London Authority shows that Greenwich has more affordable homes under construction than any other Borough in London. It is not clear if these are ‘starts’ or homes presently being built.
A council spokesperson said: “We're tackling the housing crisis every way we can. We’ve launched the biggest council housing project in a generation, delivering 1,750 new, low or zero carbon homes for local people, as well as buying homes and actively partnering with developers to get more shovels in grounds and roofs over heads.”
They added: “Despite huge external challenges we’ve topped the charts for the third year running to have the most affordable homes underway in London. While we acknowledge the scale of the crisis, we are on track to delivering the most council housing in a generation and are working with key partners on innovative regeneration projects that will deliver growth across the borough.”
If the 253-home purchase is approved, then it will mark a significant milestone in the second phase of the council's Greenwich Builds program, which was expanded in February 2022. This phase saw the target for council homes raised to 1,000 from 760, and came with an additional £397.32 million investment.
The council is expected to vote on the acquisition proposals in the coming weeks.