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real estate outlook
1. Supply
Woolwich is designated an Opportunity Area within the Mayor s London Plan, with city-wide and local authorities working closely together to fast-track development as well as employment and economic growth. To fuel this growth, a minimum of 26,850 new homes need to be built across the borough of Greenwich in the ten years to 2025. Riverside locations are the focal point for this construction activity, with 10,700 new homes in Woolwich set to be built along the Thames by 2028. This translates to around 890 new units each year towards the borough of Greenwich s targets, less than half of what is required.
Completions are now higher than starts in London
26,850 new homes over the next 10 yearsminimum construction target for Greenwich
Completions are now higher than starts and sales in London
Starts Completions
12,000
10,000
8,000
6,000
4,000
2,000
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Source: Molior London