Cushman-Wakefield-Q4-2022-BTR-Report

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FEWER FIRST TIME BUYERS IN 2023

A DEEP DIVE INTO WALTHAM FOREST

Within London , Help to Buy has played a considerable role in the outer boroughs , in Zones 3–6, both from the perspective of enabling f rst time buyers to access the sales market as well as providing developers with greater certainty in sales momentum . Waltham Forest is a great example ; Help to Buy has been used on 81% of all new home sales over the past decade . This re f ects the more accessible price point of new homes in this borough , the greater prevalence of larger , multi phased schemes being delivered , as well as the growing demand from f rst time buyers in this location . The increasing popularity of the borough also means that it is attracting substantial swathes of new renters , as well as potential f rst time buyers . This , together with the price point and greater availability of developable land , has attracted a signi f cant number of Build to Rent investors over recent years ; there are now 13 Build to Rent schemes complete , under construction , or on their way through the planning system . As part of an exciting redevelopment of the shopping center , Sigma Capital has committed to 355 Build to Rent units at The Patchworks in Walthamstow and nearly 400 Build to Rent units at Long Harbour . Closer to Walthamstow Wetlands , on Blackhorse Road , L & G and Greystar are already experiencing huge success at their schemes , Blackhorse Mills and Equipment Works , both in terms of strong occupancy rates and high rental growth rates . Despite an increasingly healthy pipeline of Build to Rent development , there is clearly scope for more , given the depth of demand in this location . There are over 28,000 renters aged 26-40 already living in the borough . There are nearly 18,000 private renters earning well over £40,000 per year , making this a relatively a f uent renter population . It is a great example of where Build to Rent can step in and provide a greater choice of high - quality accommodation to this rapidly growing renter population .

WALTHAM FOREST NUMBER OF NEW BUILD SALES VS HELP TO BUY SALES

150

129

107

Type something

Q 4 2…

Q 1 20…

Q 2 20…

Q 3 20…

Q 4 20…

Waltham Forest Help to Buy Waltham Forest New Build Sales

WALTHAM FOREST INCOME DISTRIBUTION BY TENURE

10% 13% 15% 17% 19% 21% 23% 25%

Type something

0 2% 4% 6% 8%

<£10 k

£15 k - £19 k

£60 k - £69 k

£30 k - £39 k

£40 k - £49 k

£10 k - £14 k

£20 k - £29 k

£50 k - £59 k

£70 k - £99 k

£100 k +

Ower Occupied Privately Rented

Source: Cushman & Wakefield, GOV.UK, UK HPI, Experian

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