Waltham Forest property market among strongest in London

House prices continue to surge

House prices in Waltham Forest rose by nearly 20 per cent in 12 months

Estate agent Neil Collins

First published in News
Last updated
East London and West Essex Guardian Series: Photograph of the Author by , Reporter

House prices in Waltham Forest are continuing to surge, with property prices in the borough showing the third biggest rise in London.

Land Registry figures show prices have increased by 16 per cent in the last 12 months, with the average house price now standing at £292,137 - the highest figure for many years.

The owner of Estates17, based in Walthamstow Village, said properties in the borough had been undervalued for years.

Neil Collins, 37, said: “House prices are higher than the average price given by Land Registry. We’re seeing one bedroom apartments sell for £275,000 and two bedroom houses sell for £350,000 to £400,000.

"The housing market is twice as strong as I’ve ever known throughout my 12 year career of working in real estate within Waltham Forest.

"For many years house prices in the borough had been under-valued in relation to the good transport links we have and our position with being so close to central London and Epping Forest.

"The growth is incredible and to many people living outside the borough, it still looks cheap. I can’t afford to live in Waltham Forest and I sympathise because I know local people are priced out of living in this borough."

Director Simon Rose of Roselins in Station Road, Chingford, said: "Waltham Forest is a great place to live with excellent connections to central London and the M25.

"Lenders generally have been more keen to lend in the last 12 months and many residents with the borough are commuters to Central London whereby higher incomes are achieved."

He also added first-time buyers are stimulating the growth.

"First-time buyers are back in the game and this has positive implications all the way up the housing market," said Mr Rose.

Marc McLiveney, manager of Spencers in High Road, Leyton, described the borough as an 'undiscovered gem'.

He said: "House prices have been under-valued for years. Waltham Forest is a perfect haven for families as it brings both the benefit of being close to Epping Forest and central London.

"People are starting to realise that Waltham Forest is an undiscovered gem and if you look at similar types of properties in somewhere like Hackney, compared to the same in Waltham Forest, it's a bargain and you could save yourself close to £100,000.

But Mr McLiveney admitted prices had risen beyond expectation.

He added: "An Abraham-style two-bedroom ground floor flat in Francis Road sold last year for £210,00.

"We have recently sold one of the exact same style for £300,000.

"Our search database of the area is showing 375 registered applicatants looking for properties in the £250,000 range and people are paying way beyond the asking price."

Average house prices in London passed £400,000 for the first time last month.

In December alone, the capital’s property values rose by 2.6 per cent, which is the equivalent to an average of £10,000 in real terms.

Hackney saw the highest annual rise of 17.2 per cent, followed by Wandsworth with 16.4 per cent.

Repossessions in London have fallen by a third since October 2012.

Comments (9)

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12:28pm Thu 30 Jan 14

mdj says...

'properties in the borough had been undervalued for years. '

In relation to its amenity as compared with other parts of London, yes.

But in relation to the multiples of income that people have to borrow, the picture is disastrous.
'properties in the borough had been undervalued for years. ' In relation to its amenity as compared with other parts of London, yes. But in relation to the multiples of income that people have to borrow, the picture is disastrous. mdj
  • Score: 8

2:33pm Thu 30 Jan 14

Villagecranberry says...

A guy was bragging in the Queens Pub in Walthamstow last night how he had just sold 2 houses locally that he had bought for 55 k each a few years ago for well over a million pounds until my accountant friend told him the tax implications. That wiped the smile off his face. Incredible the prices being charged. I looked in the Estates 17! window at the prices that are fortunes for a small house.
A guy was bragging in the Queens Pub in Walthamstow last night how he had just sold 2 houses locally that he had bought for 55 k each a few years ago for well over a million pounds until my accountant friend told him the tax implications. That wiped the smile off his face. Incredible the prices being charged. I looked in the Estates 17! window at the prices that are fortunes for a small house. Villagecranberry
  • Score: 1

7:12pm Thu 30 Jan 14

TTMAN says...

Another big bubble.

We're all dooooomed.
Another big bubble. We're all dooooomed. TTMAN
  • Score: 5

9:36pm Thu 30 Jan 14

ruby newbie says...

maybe due to the rents that they get from the housing benefit
maybe due to the rents that they get from the housing benefit ruby newbie
  • Score: -7

9:36pm Thu 30 Jan 14

ruby newbie says...

ruby newbie wrote:
maybe due to the rents that they get from the housing benefit
as landlords I mean
[quote][p][bold]ruby newbie[/bold] wrote: maybe due to the rents that they get from the housing benefit[/p][/quote]as landlords I mean ruby newbie
  • Score: -2

10:28pm Thu 30 Jan 14

Villagecranberry says...

We must not forget that some people have saved, sacrificed, gone without holidays, new cars, jewellery, tattoos, wide screen TV's, to get on the property ladder and by some great fortune have seen their investment multiply in value by enormous amounts. They are still small fry in the big property market, let us let them enjoy their fruits? Imagine what the big guys and institutions are coining in?
We must not forget that some people have saved, sacrificed, gone without holidays, new cars, jewellery, tattoos, wide screen TV's, to get on the property ladder and by some great fortune have seen their investment multiply in value by enormous amounts. They are still small fry in the big property market, let us let them enjoy their fruits? Imagine what the big guys and institutions are coining in? Villagecranberry
  • Score: 0

10:13am Fri 31 Jan 14

Robert19 says...

The estate agents are rubbing their hands with glee but in reality it is a disaster. It is not just properties for sale it is also rented flats and houses. In reality unless you are a property speculator, you die and leave your house to someone, or downsize, spiraling house prices mean nothing . For first time potential buyers it is a disaster.
When is any political party (and they all have nothing to say) going to do something to regulate the housing market particularly the private rented sector. We have a housing crisis in London and all Mr Collins can say is that houses have been undervalued for some years in this borough. Priceless, literally!
The estate agents are rubbing their hands with glee but in reality it is a disaster. It is not just properties for sale it is also rented flats and houses. In reality unless you are a property speculator, you die and leave your house to someone, or downsize, spiraling house prices mean nothing . For first time potential buyers it is a disaster. When is any political party (and they all have nothing to say) going to do something to regulate the housing market particularly the private rented sector. We have a housing crisis in London and all Mr Collins can say is that houses have been undervalued for some years in this borough. Priceless, literally! Robert19
  • Score: 3

11:08am Fri 31 Jan 14

Villagecranberry says...

Robert19 wrote:
The estate agents are rubbing their hands with glee but in reality it is a disaster. It is not just properties for sale it is also rented flats and houses. In reality unless you are a property speculator, you die and leave your house to someone, or downsize, spiraling house prices mean nothing . For first time potential buyers it is a disaster.
When is any political party (and they all have nothing to say) going to do something to regulate the housing market particularly the private rented sector. We have a housing crisis in London and all Mr Collins can say is that houses have been undervalued for some years in this borough. Priceless, literally!
That agent litters the area with his boards when the property is not even for sale and hyping up the area it would appear.
[quote][p][bold]Robert19[/bold] wrote: The estate agents are rubbing their hands with glee but in reality it is a disaster. It is not just properties for sale it is also rented flats and houses. In reality unless you are a property speculator, you die and leave your house to someone, or downsize, spiraling house prices mean nothing . For first time potential buyers it is a disaster. When is any political party (and they all have nothing to say) going to do something to regulate the housing market particularly the private rented sector. We have a housing crisis in London and all Mr Collins can say is that houses have been undervalued for some years in this borough. Priceless, literally![/p][/quote]That agent litters the area with his boards when the property is not even for sale and hyping up the area it would appear. Villagecranberry
  • Score: -1

11:58am Sun 2 Feb 14

Neil Collins says...

The quote here is incorrect, the exact statement was "people are saying that properties in E17 have been undervalued for years. For your information my company does not fly board, nor does it hype up the area. We are a respected estate agency. Please feel free to visit my office to discuss any of these issue's. Neil Collins
The quote here is incorrect, the exact statement was "people are saying that properties in E17 have been undervalued for years. For your information my company does not fly board, nor does it hype up the area. We are a respected estate agency. Please feel free to visit my office to discuss any of these issue's. Neil Collins Neil Collins
  • Score: 3

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