Waltham Forest faces housing crisis with rising demand, high hotel costs, and affordability challenges.
Councils must offer shelter to at-risk residents. Waltham Forest, like other London areas, uses hotels, which are costly. Over 8,000 people await permanent housing, with about 200 new housing applications each month. Around 176 new people per month need housing.
In November, 1,549 households lived in temporary housing. This number steadily increased during 2024, starting at 1,096 in January. Hotels cost the most at £607 weekly, while licensed places were second at £299.
The council housing system still faces stress. Acquiring two former hotels helped lower costs by adding 221 new units. Officers said “economic uncertainty” reduced affordable housing as not as many new affordable homes are being built.
Inflation makes it hard to find suitable homes, and static property values also create a challenge. Increased borrowing costs worsen things too. Top councillors have warned of a big housing crisis.
The council expected a £10 million housing budget overspend in June. A £4.4 million government grant will offset this overspend. The town hall must still make internal spending cuts.
Council Leader Williams said they would make “tough choices” to ensure legal obligations are met. Deputy Leader Khan said national housing changes are also vital in the 2025-2029 housing strategy.
The council plans 27,000 new homes by 2035 within their Local Plan. Government inspectors will soon review this plan. They approved 380 affordable flats near Lea Bridge Station, in towers off Argall Way.
Around 9,100 new homes were built from 2012 to 2021, and just under 3,000 met the affordability criteria. Private rent increased sharply by 42% from 2011 to 2019. House prices grew 118% between 2014 and 2024, the UK’s fastest growth. Waltham Forest ranked 4th in affordability in 2002, but fell to 14th by 2022.