In recent years a large estate in Woolwich has been demolished as part of a three-estate redevelopment scheme. The former Connaught Estate has been renamed as Trinity Walk and is the most advanced with stage one complete and stage two now underway.
When complete 1,064 mostly council homes across three estates will be replaced with 1,500 homes – of which just 35 per cent will be “affordable” – leading to a large reduction in council properties.
A Greenwich council report just released reveals that of hundreds of properties built so far just 13 are council homes. There are also 49 Shared Ownership properties (and we know what a charade that scheme often is) with 84 affordable homes managed by PA Housing.
The same council report reveals a large rise in homeless households while the estate has been demolished and rebuilt. Costs for the use of emergency accommodation has increased from £4 million a year in 2014/15 to £13.1 million last year.
With fewer council homes in which to house people the council are now spending over £100 million buying homes off the market with ever more people housed out of London including Medway in Kent. The authority recently announced spending tens of millions to buy further market homes.
A lack of council homes is costing every taxpayer huge sums of money.
That has the added effect of pricing out many buyers in Kent and raising prices which are already at elevated levels.
Many residents have also been moved out of two other estates earmarked for demolition yet work has moved extremely slowly.
A one bed flat at the new development is marketed at £364,950 and a two bed at £509,950.