New Build Investor Guide – Waltham Forest
May 2021
Buying a new build property off plan? Check out our Area Guide first
Are you considering purchasing a new build, off plan property in the London borough of Waltham Forest? Want to get the latest information on house prices, demographics and other useful information before you commit to a deal?
Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.
Read on for investor details specifically about Waltham Forest but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:
1 Is investing in UK residential property still worth it?
2 If so, where are the best opportunities for property investors and why?
Waltham Forest, London
Waltham Forest is one of 20 outer London boroughs and is located in east London. Spanning 15 square miles, it is the 16th largest London borough by area. North of the river Thames, it borders the county of Essex and London boroughs Redbridge, Newham, Hackney, Haringey and Enfield. The main districts are Chingford, Walthamstow, Leyton and Leytonstone.
Demographics
Waltham Forest’s population is forecast to grow by more than 7% by 2030
| Population (2018) | 283,524 |
| Forecast Population 2030 | 303,516 |
Source: data.london.gov.uk
Economically Active Population
A largely young, diverse, mobile population.
| Age Range | Percentage of population |
| 16 – 64 | 68% |
| Under 15 | 22% |
| Over 65 | 10% |
| Martial Status: | |
| Single | 43% |
Source: data.london.gov.uk
Average Life Expectancy
The average life expectancies for those born in Waltham Forest between 2016 and 2018 are below.
| Males | 81 (UK average is 79). Males born in Waltham Forest have the 17th longest life expectancy of all London boroughs. |
| Females | 85 (UK average is 83). Females born in Waltham Forest have the 16th shortest life expectancy of all London boroughs. |
Source: ons.gov.uk
Population Density (2011)
Waltham Forest has 7,137 people per km2. Higher than the London average of 5,701 people per km2 and the 15th highest density of all London boroughs.
Source: ons.gov.uk
International Migration (2018-19)
5,450 new residents from overseas moved to the borough in 2018 -2019. Twelve London boroughs welcomed more new residents from overseas than Waltham Forest.
Source: ons.gov.uk
Country of Birth
| Location of Birth | Proportion of Population |
| UK and Ireland | 62% |
| EU | 12% |
| Other countries | 26% |
Source: data.london.gov.uk
Crime & Safety
| Crime Numbers (April 2017 – March 2018) | 22,331 |
| Crime rate per 1,000 population (April 2017 -March 2018) | 81 |
| Waltham Forest has the 15th lowest crime rate per 1,000 people of all London boroughs. |
Source: data.london.gov.uk
Education
Schools
| Primary Schools | 66 (14 of which have an Ofsted rating of outstanding) |
| Secondary Schools | 27 (3 of which have an Ofsted rating of outstanding) |
| Schools and Colleges (16-18 years) | 20 (2 of which have an Ofsted rating of outstanding) |
Source: compare-school-performance.service.gov.uk
Universities
None
Hospitals
Whipps Cross University Hospital
General Wellbeing
| Population considering themselves in very good health | 47% |
| Population considering themselves in very bad health | less than 1.3% |
Source: data.london.gov.uk
Employment & Economy
78% of working aged people employed (compared to 75% across England 74% across London).
Top 4 Sectors of Employment
| Public administration, education and health | 28% |
| Finance, banking and insurance | 21% |
| Distribution, hotels and restaurants | 19% |
| Construction | 12% |
Source: data.london.gov.uk
Major Employers
In 2020, there were15 companies in the borough employing more than 250 people and 70 companies employing between 50 and 249 people. (source: nomisweb.co.uk).
Jobs and Job density
Aproximately 34,797 residents of Waltham Forest also work in the borough. 25,782 people travel into the borough each day for work and 62,970 residents work outside the borough. The daytime population of the borough therefore decreases by 37,188 people each day. (source: data.london.gov.uk).
| Median Gross Annual Pay for full-time employee jobs (2017) | £31,365 |
| Number of jobs in the borough (2019) | 92,000 |
| Jobs per resident | 0.49 (London average 1.03 and UK average 0.87) |
Source: nomisweb.co.uk and data.london.gov.uk
Housing
| Number of residential properties in Waltham Forest | 103,200 |
Source: data.london.gov.uk
Property Ownership (2018)
| own property outright (no mortgage) | 20% |
| own property with mortgage | 31% |
| rent from a Housing Authority or the Local Authority | 17% |
| rent from a private landlord (representing approximately 31,900 private rentals) | 32% |
Source: data.london.gov.uk
| Households with no car or van (2011) | 42% |
Source: nomisweb.co.uk
Household Composition
| One person households | 30% |
| One family households | 53% |
| Other (sharers / students etc) | 17% |
Source: nomisweb.co.uk
Average House Prices
Average house prices in Waltham Forest are the 16th cheapest of the 32 London boroughs. Average house price growth was the 8th highest of all London boroughs between January 2020 and January 2021.
| Average achieved price January 2020 | £443,997 |
| Average achieved price January 2021 | £478,186 |
| Increase/Decrease | +7.7% |
Source: www.gov.uk
Volume of Sales
During the COVID pandemic, the number of property transactions in the borough of Waltham Forest fell by 26%. Only eight London boroughs saw greater falls in transaction volumes than Waltham Forest.
| Number of residential sales to year ending September 2019 | 2,749 |
| Number of residential sales to year ending September 2020 | 2,048 |
Source: ons.gov.uk
Achieved Rents (January to December 2020)
Mean monthly average rents Waltham Forest:
| London Median Rents (per calendar month) |
Waltham Forest (per calendar month) |
|
| Studio | £950 | £850 |
| 1 bedroom | £1,200 | £1,100 |
| 2 bedrooms | £1,450 | £1,350 |
| 3 bedrooms | £1,750 | £1,625 |
Source: london.gov.uk
New Build Developments in Waltham Forest
There are six large new build developments in Waltham Forest with apartments currently available for sale. Average asking prices for three of these developments are set out below.
Blackhorse View (Barratt)
| Total Number of properties | 350 (185 private) |
| First launched | August 2020 |
Average Prices – Blackhorse View
| Minimum | Average | Maximum | |
| Price | £315,000 | £320,333 | £575,000 |
| Price per ft² | £545 | £671 | £776 |
| Area (ft²) | 406 | 639 | 975 |
source: Molior
| Minimum | Average | Maximum | |
| Studio | £315,000 | £320,333 | £323,000 |
| 1 Bedroom | £379,000 | £396,889 | £414,000 |
| 2 Bedroom | £473,000 | £480,000 | £486,000 |
| 3 bedroom | £499,000 | £525,333 | £575,000 |
source: Molior
Feature 17 (Countryside)
| Total Number of properties | 436 (286 private) |
| First Launched | October 2017 |
Average Prices – Feature 17
| Minimum | Average | Maximum | |
| Price | £381,000 | £495,510 | £630,000 |
| Price per ft² | £489 | £649 | £758 |
| Area (ft²) | 538 | 779 | 1,226 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £381,500 | £400,433 | £410,000 |
| 2 Bedroom | £465,000 | £495,053 | £525,000 |
| 3 Bedroom | £534,000 | £589,077 | £630,000 |
source: Molior
Picture House (IPE Developments)
| Total Number of apartments | 29 (26 private) |
| First Launched | June 2020 |
Average Prices – Picture House
| Minimum | Average | Maximum | |
| Price | £375,000 | £504,000 | £600,000 |
| Price per ft² | £530 | £582 | £633 |
| Area (ft²) | 592 | 839 | 1,184 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £375,000 | £375,000 | £375,000 |
| 2 Bedroom | £490,000 | £490,000 | £490,000 |
| 3 Bedroom | £565,000 | £582,500 | £600,000 |
source: Molior
Environment & Leisure
Waltham Forest was the London borough of culture in 2019, a borough where traditional East End life mixes with the new. It’s home to Europe’s largest urban wetland’s in Walthamstow and part of Epping Forest in the north of the borough.
Facilities in the borough include:
5 town centres (Leyton, Leytonstone, Walthamstow, Highams Park and Chingford)
New centres being developed in Lea Bridge and Blackhorse Road
More green space than any other borough north of the Thames
6 leisure centres
4 libraries
Transport
Waltham Forest’s overground and underground stations are in Zones 3 and 4.
Overground Stations
| Blackhorse Road | Chingford |
| Highams Park | Lea Bridge |
| Leyton Midland Road | Leytonstone High Rpad |
| St James Street | Walthamstow Central |
| Walthamstow Queen’s Road | Wood Street |
Underground Stations
| Leyton (Central line) | Leytonstone (Central line) |
| Blackhorse Road (Victoria Line) |
Walthamstow Central (Victoria line) |
Local Government
The Labour Party
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