The Waltham Forest Liberal Democrats recently revealed their concerns that the property price crash could have a major effect on redevelopment projects in the borough – and now it seems as if those concerns are being shared by others in the borough.

In the same week as the London Evening Standard bought to wider attention the severity of the problems  in Waltham Forest, the local Yellow Advertiser featured Liberal Democrat leader John Macklin in a feature on the local property crash.

The Evening Standard confirmed that Waltham Forest suffered the largest year-on-year fall in London property prices .  The local Lib Dem team recently revealed that there had been a 9.2% fall in local prices, sparking concern about building projects in the borough.

Cllr Macklin told the Yellow Advertiser:

“The collapse in property prices is bound to have an effect on regeneration in the borough, and I will be looking for clarification from the relevant portfolio holders regarding the timetables for work on these projects.

“The Government has allowed house prices and irresponsible mortgage lending to rocket almost unchecked and this completely irresponsible approach is now resulting in dire consequences for residents.”