The public will be consulted on whether maximum speeds of 20mph should be introduced in roads to improve safety.
Areas of South Woodford and Woodford Green where the most accidents have taken place would be included in the scheme, which was announced this week.
Councillor Ian Bond, of Roding ward, said the majority of residents who replied to a local survey about reducing speed levels support the measure, and research shows safety is improved.
In the last three years, there have been 19 accidents in and around George Lane and seven in Monkhams Lane.
The cost of the scheme is estimated at £30,000 for signs and traffic orders.
Resident Nicky Tramner, of Mulberry Way in South Woodford, has four young and welcomed the move.
The 42 year old said: "I have previously asked the council to monitor the speed in Mulberry Way as it is shocking the way people drive through here.
"As it is a straight road, hopefully the pilot scheme of 20mph zones will discourage drivers from driving eratically.
"I have four small children and it is quite frightening when I am unloading the children from the car as it only takes a split second for something tragic to happen."
68 year-old Benjamin Muneton-Torres of South Woodford has been asking for a controlled speed limit in the area for a decade.
"I have lived here for 25 years and have been asking the council for a 20mph zone for over 10 years.
"There have been several near-misses in the during the school run as hundreds of children walk with parents to and from Oakdale Infant School," says Mr Muneton-Torres.
The roads included in Woodford Green are in an area between Kings Avenue, Monkhams Lane, High Road and Snakes Lane West.
In South Woodford the area covered would be between the North Circular, Woodford Road, Chigwell Raod/Hermon Hill and Tavistock Road.
The consultation is expected to start in the autumn.