Waltham Forest proves regeneration success
by Marco Cillario Fri 21st October 2016, 11:12 am
Research has shown that the London Borough of Waltham Forest is becoming a more popular place to live, while the council is committed to further increase the supply of homes in the borough.
Speaking to Sitematch, Jonathan Martin, director, investment and delivery at Waltham Forest, discussed the council's ambitious growth plan: "Waltham Forest is one of the fastest growing boroughs in London, and more people than ever are looking to set up home here thanks to our thriving arts and cultural scene, excellent transport links and more green space than any other London borough north of the Thames. The council is putting a huge amount of work into delivering regeneration and growth to the borough, and we have a programme of investment to improve our high streets, leisure facilities and parks to ensure we improve the places where we see new developments.
"We are also working to satisfy the increasing demand for housing in the borough, with ambitious plans to see high quality housing and developments built, using partners such as CABE – our independent design guidance advisor, on our larger schemes to ensure that quality is central to what we want built. Our focus isn’t just on building more homes; we want to create thriving communities with access to all of the facilities that families need to enjoy a good quality life."
Research by residential property crowdfunding platform Property Partner showed that the average price in the borough rose by 76.6% between 2012 and 2016, more than 20 points above the London average of 52.8%.
The average house price in the area, which was £236,796 in July 2012, reached £418,146 four years later.
The study connected the rise to Waltham Forest being among the areas which hosted the 2012 Olympic Games, observing that the six ‘Olympic boroughs’ outperformed most other parts of the capital in terms of growth in property value since the Games took place.
Home prices rose by an average 64% over the last four years in Hackney, Newham, Barking and Dagenham, Greenwich, Tower Hamlets and Waltham Forest – 10 points above the capital’s average.
Dan Gandesha, CEO of Property Partner, said: “London 2012 was the catalyst for a flood of investment into the capital, much of which was injected into regenerating some of the capital’s most disadvantaged boroughs.
“The economic legacy of the Games – supporting new jobs and skills, encouraging trade, inward investment, tourism and improved transport links - has meant a corresponding rise in house prices in the six host boroughs. The economic, social and environmental gap between these boroughs and the rest of London is closing.”
The London Borough of Waltham Forest will attend the next Sitematch London event on 8 February 2017 at The Shard. To book your meeting, contact Josie Brewer.