Wednesday 4 March 2015 3.14pm
I just received an e-mail from L&Q about the first development on what was once the Heygate estate, detailing their prices for the first batch of "Affordable housing" (from their "lqpricedin" website) for Southwark residents.
For a two bed flat, they're asking for a minimum household income of £62,000 - £64,000, and a maximum of £66,000.
For a one bed flat, they're asking for a minimum household income of £57,500 and a maximum of £66,000, (the full price of the apartment is between £420,00 and £435,000)
As the median household income in Southwark is £16,800 and the mean is £29,800, who exactly are these apartments aimed at, and if they're not sold, do they then go on the private market? That's the only way I see this going..
Also worth noting the Coopers Road scheme, where there was no luck shifting the allocated Southwark flats to locals, so they were offered to non-Southwark residents, and still aren't shifting due to their un-affordability at £1500 per month..