* New developments include Lewisham Gateway, Tool Works in Ashburnham Triangle Conservation area, Diamond Tower in Canary Wharf and Ontario Point in Rotherhithe
* Despite 278,000 new homes planned for London during the next 10 years, there will still be a shortage. The Mayor's 2020 Vision for London says at least 400,000 homes are required within the next decade
A building spree in six inner-city boroughs — Greenwich, Lewisham, Southwark, Tower Hamlets, Newham and Wandsworth — will account for almost 60 per cent of the 278,000 new homes planned for London during the next decade.
Analysis of the capital’s “development pipeline” reveals likely hotspots and provides valuable research for home buyers, and for investors hoping to buy the right property in the best investment area. And as the population growth in those six boroughs is predicted to be among the highest in London, demand for housing is set to generate prices rises in these areas.
Fresh data from the 2011 Census shows that London’s population jumped faster than expected during the preceding 10 years — climbing 850,000 to reach 8.17 million — and it is forecast to hit 10 million by 2030.
Mayor Boris Johnson’s 2020 Vision, a blueprint for London’s investment needs, says at least 400,000 homes are required during the next decade.
“New housing will fall some way short of demand in most areas,” says Grainne Gilmore, head of UK residential research at Knight Frank.
Across London, about 2,000 housing developments are under construction or have planning consent, and schemes of 1,000-plus homes make up 35 per cent of the total.
Planners are promoting large-scale, high-density developments to help cope with rising demand, while the Mayor and local authorities are bringing forward public-sector land for new homes.
Lewisham and Greenwich
These adjoining south-of-the-river boroughs are swinging into fashion as buyers wake up to the quick train links to central London. Estate agents predict a new wave of buyers working at the Shard and the wider London Bridge Quarter.
After years on the drawing board, Lewisham Gateway, a major redevelopment of the town centre, is poised to start. This project brings 800 homes, a new town square, riverside park, shops and offices. An ugly roundabout is being removed and traffic rerouted to create a pedestrian-friendly public realm.