Published: 14th Sep 2020

A new report has questioned whether local residents will be able to afford the new homes being built as part of Enfield Council’s flagship Meridian Water regeneration scheme. The London borough’s overview and scrutiny committee is due to meet this week (15 September) to discuss a report by the Meridian Water Scrutiny Workstream, which claims the homes that will be built will be ‘unaffordable to the majority of local people’. According to the report, the average household income in the local area is between £26,000 and £30,000, while the lowest priced open market flat at Meridian Water would require an income of £59,000. The report adds that a quarter stake in the lowest priced shared ownership flat would require an income of £44,000. ‘Furthermore, the majority of the homes at Meridian Water would be open market, so it is unclear how local people would be the main beneficiaries if they … (To read the full article, subscribe below)