Waltham Forest has received nearly half a million pounds from the Mayor of London to build new homes.

The authority received £493,380 from Sadiq Khan as part of a £1 billion scheme to deliver 11,000 homes across the capital over the next four years.

The homes will be a mixture of council houses, social rent houses and other “genuinely affordable” properties.

Since 2010, central Government has slashed council planning and development budgets in London by up to 50 per cent.

The Mayor’s new scheme, agreed plans last year, will see more than £1 billion pumped into 27 London boroughs to start building 11,000 new council homes at social rent levels by 2022.

A total of 30 London local authorities will receive funding of up to £650,000.

Sadiq Khan said: “London’s local authorities have seen their budgets slashed year after year through Government cuts. This has hit their services across the board – and has severely hampered their ambitions to build more affordable homes.

“This funding won’t reverse all those cuts – but it will help councils boost their teams to go much further than they otherwise could. We are going as far as we can, and it is now imperative for Government to give us significantly more investment and greater powers so we can build all the homes Londoners need.”

Cllr Simon Miller, Waltham Forest Council’s cabinet member for economic growth and high streets, said: “We are delighted to receive funding from the Mayor’s fund as we continue to work to provide a decent roof over all our residents’ heads.

“This year we celebrate 100 years of council housing in the UK – this funding will help us to really boost our direct housing delivery programme, the most ambitious council housebuilding programme seen in Waltham Forest for a generation. It will allow us to plan strategically for good inclusive growth, in line with the Mayor’s London Plan.

“I’m delighted that this will also enable us to invest in the next generation of talent to help us build the homes we so desperately need. Our east London partnership bid will help train local people in the construction and development industry, making the most of our fantastic construction and skills centre in Leyton and giving them the skills they need to succeed and make the most of their life chances.”