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Debate House Prices


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will new houses being built affect my property value?

Euphoria1z
Euphoria1z Posts: 952 Forumite
in Debate House Prices & the Economy
hi

ive just been made aware that the council is going to build aprx 200 houses behind my flat. So am just wondering what kind of affect this generally has on properties in that area? will it have a tendency to increase or decrease that value of my flat or will it not matter?

cheers!

Comments

  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Nice one icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    A council building houses!.

    Pass, depends on your area.
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    1,000 Posts Combo Breaker Mortgage-free Glee!
    Really2 wrote: »
    A council building houses!.

    Pass, depends on your area.

    What he said.

    Seriously, so many factors.

    Given the housing shortage in the nation, I think it is really heartening that on hearing of a pioneering project like this, the first thing we think about is will the price of our home come down?

    This could have a massively positive impact, with additional infrastructure, jobs, local services & facilities, workmen spending their money in local ameneties, new roads, perhaps a new school and/or leisure facilities.

    Or they could move in a load of criminals/single moms/chavs/junkies & prostitutes & sink your area into a crime ridden hell-hole...
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • irn_bru
    irn_bru Posts: 70 Forumite
    lemonjelly wrote: »



    Or they could move in a load of criminals/single moms/chavs/junkies & prostitutes & sink your area into a crime ridden hell-hole...

    The more likely scenario
  • abaxas
    abaxas Posts: 4,141 Forumite
    irn_bru wrote: »
    The more likely scenario

    The OP only metioned a housing development, nothing about parliament moving there. :D
  • Euphoria1z
    Euphoria1z Posts: 952 Forumite
    if it was a normal development, whats the general consensus there then? just wondering in what way does more houses being built in an area have on exisitng values of like for like properties.
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    Euphoria1z wrote: »
    if it was a normal development, whats the general consensus there then? just wondering in what way does more houses being built in an area have on exisitng values of like for like properties.

    Nothing really. Just makes selling harder until the houses are built. Generally it will be the same as any other place in your town. T
    he hell hole only really happens if your area is fairly run down anyway.
  • Running_Horse
    Running_Horse Posts: 11,809 Forumite
    Part of the Furniture Combo Breaker
    We looked at a house in Coxheath Kent, but decided not to buy. Shortly after a development of Prescott Houses was built, significantly increasing the size of the village. Although it is hard to compare, I would say prices in Coxheath have fallen much faster than in comparable villages. Some places such as Staplehurst don't seem to have had much of a fall in asking prices at all.
    Been away for a while.
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    Euphoria1z wrote: »
    hi

    ive just been made aware that the council is going to build aprx 200 houses behind my flat. So am just wondering what kind of affect this generally has on properties in that area? will it have a tendency to increase or decrease that value of my flat or will it not matter?

    cheers!
    How many toilets does it have?
  • Afriend_2
    Afriend_2 Posts: 476 Forumite
    Quiet night tonight. I should have gone dogging instead.
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