A £1.5billion housing project has moved a step closer after new plots of land were bought by Enfield Borough Council.

The newly bought land on the Upper Edmonton site will house 1,500 of the 8,000 homes in the Meridian Water project.

Thousands of jobs will be created and improved transport links and new schools will be built as part of the project.

Enfield council expects the project to be named as part of the London Mayor’s housing zone after buying nine hectares of land from National Grid last month, allowing it to speed up the process of purchasing land.

Cabinet member for housing and regeneration Councillor Ahmet Oykener commended the announcement as a “step forward”.

He said: “This purchase will help kick start the delivery on homes at Meridian Water and is an exciting step forward for this incredibly ambitious and exciting scheme.

“Meridian Water will drive the regeneration of both Enfield and North London and create a fantastic waterfront community in the heart of our borough providing thousands of high quality family homes in a superb setting.”

Cllr Alan Sitkin, cabinet member for economic regeneration and business development, said: “Our holistic vision of bringing together employment opportunities with transportation, retail, leisure and housing means that Meridian Water is bound to become one of London's most sustainable addresses in the years to come."

The council is also looking to buy three more sites which would enable a further 2,500 homes to be built.

Network Rail has approved funding to provide Meridian Water a third track and have four trains an hour from 2018.