Homeowners and investors alike are feeling the squeeze as less and less housing is available within the capital. However, as news breaks that more housing will be developed, we could hopefully see some of the strain being relieved.
At the end of July, London mayor Boris Johnson announced that three more areas of London will be given special status as Housing Zones. These neighbourhoods, in Brent, Westminster and Sutton, will receive funding and assistance from City Hall to hopefully fast-track approvals, meaning that development projects can be carried out a lot more quickly. These areas join various other housing zones which have gained this status, including Bexley, Ealing, Haringey and Wandsworth, amongst others.
This announcement means that there are now eighteen designated housing zones in London, with two more expected to be identified later in the year to bring the total up to twenty. In Westminster, the Edgware Road housing zone is intended to provide 1,113 homes through the regeneration of two existing states. In Brent, the Alperton housing zone will see 3,213 new homes built and in Sutton, the Hackbridge housing zone will deliver over 1,600 new homes across 12 sites. All in all, over 50,000 new homes are scheduled to be built across the 20 zones, which will go a long way to alleviate the housing crisis.
With more houses available, this means more chances for investments. At Finefair, we offer comprehensive services for our clients, including property and block management in Haringey and across all other boroughs. Those planning to invest in these new houses can depend on us for the assistance they need.