30 Sep

Essex leads the way with raft of property developments

 Essex leads the way with raft of property developments

The National Housing Federation recently predicted from their own data that the number of people living in homes that they actually own themselves will plummet to 63.8 per cent in the next decade, from a much higher peak of 72.5 per cent recorded ten years ago.

The NHF, which represents housing associations, has gone on record as saying that a lack of new homes being built in the UK is the main reason for this decline as well as a lack of finance among young property seekers. The lack of housing specifically is predicted to see house prices rise by a massive 20 per cent over the next five years.

Now it seems that Essex is doing what it can to help the struggling first time buyer in terms of housing, mainly by building lots of it. Developments are planned which could help struggling first-time buyers who may find it hard to get their foot on the property ladder. There are a number of new housing developments all beginning to take off in the region

There are already detailed plans underway for the £1 billion Basildon Masterplan which aims to completely regenerate vast areas of the town and could see as many as 2,000 affordable homes go up. Although there has been a certain level of controversy regarding the council's plans to sell-off of playing fields for the housing in an attempt to help fund the Basildon Sporting Village.

There are also plans further up the county in Colchester to build a large amount of property. A planning application is being readied in lieu of its submission next year, which could again see more than 2,000 homes built, this time on 247 acres of land.

Speaking to the Colchester Daily Gazette, Barry Hayes, sales manager at Essex estate agent Boydens, said that the housing market had been relatively stable for the past 18 month and that now plenty of new houses are becoming available to buy. This will surely be boosted with this raft of new homes.

Mr Hayes said: "They are building a massive number of new homes in this area. So when they are talking about the relationship between the population and the number of homes built, they’re talking more on a national basis.

"Mortgages are more readily available than they have been for first-time buyers, and there are some good deals out there. There’s also a steady supply of properties for sale and they’re mainly houses, but flats are still difficult to sell."

Local residents are being reassured that property developments will bring positive aspects to the area including growth and are also being urged to have their say on the developments.

In a statement from the Basingstoke and Deane Borough Council, cabinet member for planning and infrastructure councillor Rob Golding said: "This is a real chance for local people to have their say about what is right for their area. We must decide what is a reasonable number of new homes and where they should go across the borough. If we don’t, then we are leaving the decisions to developers through ‘planning on appeal’.

"The message is don’t wait until new homes are proposed and say they are in the wrong place – get involved in the debate about how many homes are needed in your area and where they should be built."

Essex seems to be determined to go against the national housing statistics and provide opportunities for people to live there. Both Essex authorities and house hunters will be hoping it works out. 

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