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Peterborough exceeds development targets by extra 200 new homes

Petebrorough continues to show it is one of the UK’s fastest growing cities, after a number of new homes built in the city in the last year have exceeded targets, alongside major new retail and leisure developments. 
Peterborough continues to grow bigger and better after exceeding targets for new homes built in 2019/20 (Picture: Google Maps)

In total 1,145 new homes were built in the city between April 2019 and March 2020, well above Peterborough City Council’s local plan target of 942. It shows Peterborough is well on track to retaining its title as one of the UK’s fastest growing cities. The majority of homes were built in newly created developments in Hampton Water and Hampton Gardens (256) and Cardea in Stanground South (162).  

Councillor Peter Hiller, cabinet member for strategic planning, commercial strategy and investment, said: "This excellent delivery performance reinforces the confidence we and others have in our city and will go a long way in attracting increased investment from developers, retailers and the Government.

"It comes alongside development of the City Fibre network, regeneration of Fletton Quays, (which will include a new Hilton Garden House Hotel), the current development of a new multi-million redevelopment of Queensgate Shopping Centre including a multi-screen Odeon Cinema and plans for a new university in 2022 to boost the economic prosperity of our young.  

"Further growth will mean we will be able to attract more investment to improve the look and feel of our city even further and deliver increased economic prosperity for our residents to make Peterborough an even better place for us all to live, work and relax."

Growth also benefits Peterborough City Council, as it means extra businesses to pay business rates and extra homes paying council tax.  

During this current financial year (2020/21) these two income streams now make up 33% of the council’s overall income, increases are welcome as it will give the council extra cash to pay for schools and adults and children’s social care.   

Earlier this month Peterborough City Council was part of an investors conference, which aimed to attract increased investment from developers to fund the great growth opportunities across the city including Station Quarter, North Westgate, parts of the Embankment and Northminster.  

The city council is also awaiting a decision later this week from the Government’s Towns Fund, which – if successful - will help deliver a new community/library facility, improved cycling and pedestrian links, support for skills and innovation and exciting new visitor attractions. All of which will deliver increased footfall and spending power to support our retail and leisure facilities.