The London Borough of Newham in 2010 was the 2nd most deprived local authority in England. In 2012 it part hosted the London Olympics that was such a success story for London, the UK and Newham in particular. There remain areas of huge deprivation and it is still the 8th most deprived local authority in the UK but at least there is progress.
The Olympic park to the North and West of the borough has been a huge catalyst for development in the area around the Stratford transport hub. From the East Village through Westfield shopping centre and the enormous infrastructure improvements this part of Newham is almost unrecognisable from the turn of the century.
In the South in and around the ExCeL Centre there have been a number of residential developments. Customs House and Canning Town have rapidly become the next destination for those looking East. Plaistow in the middle remains an unheralded destination for families with excellent schools and below average house prices.
House Prices in Newham vs London Average
Property prices in Newham have lagged behind the London average considerably over the last fifteen years. The divide between the average and prices in Newham has widened when many imagined that development would lead to house prices outstripping the London average:
Affordable Properties in Newham by Price Band
The price band to have seen the most change in Newham is the under £250,000 mark. In 2000, a buyer with the same amount of money (inflation adjusted) would have been able to buy pretty much any property that they wanted in the area. In 2015 £250,000 would leave 61% of properties out of reach. Those with £350,000 would still be able to buy 82% of properties whereas in Tower Hamlets to the West, a budget of £350,000 would leave a buyer access to 37%.
Index of Multiple Deprivation
The Index of Multiple Deprivation (IMD) is an Index produced by the UK government that measures and then ranks all authorities according to a series of criteria. Areas are then ranked and divided into deciles from the most deprived to the least deprived. In 2010 Newham was the 2nd most deprived local authority in England and in 2015 it was 8th. This is largely due to the lack of green space and the population density of the area.
The improvement on the average rank of the individual LSOA's rose by 66% over that five year period which shows an enormous improvement from an average of 4,302nd to 7,153.
The map can be seen below:
What's next for Newham?
The Borough of Newham is set for continued change mostly spreading away from Stratford - the new transport hub of the East. The development of West Ham's ground will introduce some external investment into the Boleyn area of Newham.
As Plaistow gains more notoriety amongst families for its excellent schools and location near to the Queen Elizabeth Park it should become the connector between Stratford in the North West and Barking to the East of the borough.