London's new homes building boom - and the six inner-city boroughs to watch

London's new homes building boom - and the six inner-city boroughs to watch

Nearly two thirds of all London's new homes in the next 10 years will be built in just six inner-city boroughs - but supply will still fall short of demand. David Spittles reveals the latest vital data for home buyers and investors
* The building spree will take place in Greenwich, Lewisham, Southwark, Tower Hamlets, Newham and Wandsworth

* 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

Flats at Greenwich Square
600 new homes: a new residential quarter is being built at Greenwich Square, including flats and townhouses

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.

Lewisham Gateway
800 new homes: long-awaited Lewisham Gateway will be built around a new square
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.

Apartments at The Distillery, Deptford
£355,000: View sold house prices in Wandsworth
View area stats for Wandsworth
Property values in Wandsworth

Long-delayed redevelopment of historic Ram Brewery, a six-acre complex fronting River Wandle, is the key project. Enclosed by high walls, the brewery has been inaccessible to the public for generations but is set to become an animated waterfront quarter, with 669 homes, bars, shops, eateries and loft-style offices.

Minerva, the developer, has ditched plans for two skyscrapers in favour of a single residential tower alongside restored heritage buildings including a listed stable block, which will incorporate a museum and micro brewery. About half the site will be open public space, with a market square. Visit

London house prices: the average cost of buying a home in every borough

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