Are you absolutely sure they're wasps & not hoverflies? They can appear very similar & there are lots of them about this year, they're harmless & very good for the garden as their larvae eat aphids...and there are masses of those!
If you're sure they're wasps then yes, there's probably a nest in there which might take a bit of spotting, they're usually well camouflaged.
Half way down there are wasp-like hoverflies here...
http://www.gardensafari.net/english/hoverflies .htm