Homes ‘out of reach’ for locals as Erith Quarry puts £400,000 price tag to buy three-bedroom house
PUBLISHED: 11:01 01 September 2017 | UPDATED: 11:19 01 September 2017
From Saturday, 27 homes will go on sale under the shared ownership scheme
As the first of batch of a 600-home development go up for sale this weekend, concerns have been raised over the price tags currently on offer.
The Erith Quarry development will bring 470 houses and 130 apartments to the town, with the first 27 going on sale this weekend.
Each of the homes on sale from September 2 will be available under the shared ownership scheme, with a 50 per cent share of a two-bed maisonette costing residents £165,000 and the same share of a three-bed house costing £220,000.
From September 16, would-be homeowners will have to pay £400,000 for a three-bed home and four-bed homes will be going for £525,000.
An online search revealed a three-bed semi-detached house elsewhere in the town was taking offers upwards of £250,000.
Labour councillor Danny Hackett warned some buyers will feel developer L&Q’s price tags are “out of reach”, pointing out the development offers “no affordable housing for rent”.
He said: “Forthcoming Crossrail services and the housing crisis across London are causing a large increase in house prices in the north of Bexley.
“Along with a shortage of new homes in the borough, this is leading to homes that appear to be out of reach of local people, this is why we have continually called for a growth strategy to bring new homes to the borough and to bring a range of homes for purchase, part-purchase and rent.
“Until Bexley Tories acknowledge the scale of this problem and develop a strategy where local families housing needs can be prioritised, then local families will continue to struggle to purchase both at market rates and shared ownership tenures”.
Lucy Chitty, Regional Sales Director at L&Q, said: “We’re really pleased to be offering homes at The Quarry for sale. The Quarry is an exciting, sustainable and family-friendly development and we believe it will be a great community for people to live in.
“For those looking to buy there are a range of options including Shared Ownership and homes for sale at full market value that are eligible for London Help to Buy.”
Cabinet member for regeneration and growth, Linda Bailey said: “This is a fantastic new development that I hope will benefit a great many local people and their families. This ground breaking design, developed in a potentially difficult site, includes a new school and is close to Erith station and the town centre in an area of opportunity that is key part of our own growth strategy.”
L&Q confirmed the share of affordable housing for the remaining 553 homes will be finalised “as the development progresses”.