Construction has begun on a total of 280 new homes in the borough since February, against a target of 1,264, reports Sebastian Mann, Local Democracy Reporter
The speed at which homes are being built in Waltham Forest is “disappointing,” Conservative councillors say.
Construction has begun on a total of 280 new homes in the borough since February, against a target of 1,264.
Of those, 238 will go up for sale on the open market, while 41 will be available as ‘affordable’ housing.
Affordable homes are aimed at people on lower incomes who would typically struggle to buy a house on the open market. In some cases, they enter into a ‘shared ownership’ scheme with a local council, paying half-rent, half-mortgage.
During a full council meeting yesterday (17th July), Tory councillor John Moss described the figures as “really disappointing” while also caveating that it was good to see progress on certain stalled sites had restarted.
Councillor Grace Williams, leader of the Labour-run council, said that housing development across the country, and especially in Waltham Forest, had slowed since the Covid-19 pandemic in 2020.
She said progress “fell off a cliff” in 2021, which she pinned on a combination of things, including Covid, Brexit, and inflation.
She added that the country was facing the “toughest market conditions in a generation”.
Building Cost Information Service, which analyses the cost of construction in the UK, estimates it will rise by a further 14% over the next five years. UK Finance says building costs have already risen by up to 20% since the start of the decade.
The council is currently working towards a wider target of building 27,000 new homes over 15 years. There are currently 8,598 homes under construction in the borough, according to the latest figures.
Construction has resumed on a number of sites, including the Patchwork site in Forest Road, as well as on the L&Q site in Spruce Hill.
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