Wandsworth Council has reaffirmed its long-term commitment to building stronger, more sustainable communities through investment in new council homes and estate improvements across the borough.
According to the council, the Housing Revenue Account (HRA) is in a stronger position compared to many other stock holding authorities, which has allowed ambitious regeneration and development plans to continue.
The council has avoided an additional £3.7m in temporary accommodation costs every year due to strengthened prevention work.
Rental income from new homes covers costs and reduces reliance on temporary accommodation.
Homes for Wandsworth recently reached a milestone with the completion of its 500th new council home.
The council has pledged to deliver 1,000 new homes for local residents.
A new partnership with Battersea Power Station will deliver 200 council homes within the development’s 42 acre masterplan.
Councillor Aydin Dikerdem, Cabinet Member for Housing at Wandsworth Council, said: “Investing in new council homes is one of the most powerful tools we have to tackle the housing crisis and strengthen our communities.
“Every new home means a family moved off a waiting list and into a secure, comfortable home.
“And it also saves us money in the long-term, delivering a public asset and reducing expensive temporary accommodation costs.
“It’s an investment not just in buildings, but in the future of Wandsworth.”
