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New Housing Estate..........
squibbs25
Posts: 1,324 Forumite
Just wondering, the area that i live in is at present is under going regeneration.
I have just recieved through the post notice of a new housing developement (which will be quite close to home), i know this probally sounds daft, but will the new housing lower the value of our home or as the area is supposed to be up and coming keep its value? I believe a lot of the new houses will be 'affordable housing / SO/ keyworker housing/ HA housing' ect (i dont have a problem with that at all) just wondering in general.
There is a huge amount of money being spent here! Just wondering if we will actually see any benefits?
Any views?
Squibbs
I have just recieved through the post notice of a new housing developement (which will be quite close to home), i know this probally sounds daft, but will the new housing lower the value of our home or as the area is supposed to be up and coming keep its value? I believe a lot of the new houses will be 'affordable housing / SO/ keyworker housing/ HA housing' ect (i dont have a problem with that at all) just wondering in general.
There is a huge amount of money being spent here! Just wondering if we will actually see any benefits?
Any views?
Squibbs
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0
Comments
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Hi,
It's now law that 30% of all new housing developments are 'social housing'.
This could be shared ownership or straight rented, they can also get round this by building a service such as a Doctor's surgery.
I bought a new home a few years ago when the percentage was 20% and it was a nightmare.
We ended up selling for a lot less than the value as we were so desperate to get away.
There was a quota of key worker housing that was not given to a single key worker, I know as a friend who was a nurse applied for one and was turned down, when we got to know the neighbours to try and get something done about the bad tennants not one was a key worker.
Two even had other homes.
There is a new devopment near us that has the social housing quota, and that also has become a no go area.
There are houses for sale already for around 30k less than 6 months ago.
I would be very wary of buying a new house now, at least getting as much info as possible on the social housing, i;e is it shared ownership.
That aside, it stands to reason that there will be more houses to choose from so that may put the house prices in the surrounding area down slightly.
Having said that, they may be plans to expand the area such as extending the local school etc., to account for the extra people so that could indeed make the area more attractive.
It could be very positive and exciting.
GreenstuffWaddle you do eh?0
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