Short and long-term effect on new housing in our local area.
I believe nearly everyone with a family either children, teenagers, students or just starting out in there working life, acknowledges that without a huge increase in affordable and new housing, or radical changes to how mortgages are provided, then buying a first-time property in the future will be challenging and have a detrimental social impact all round.
The recent government white paper has now paved the way and is very much up and running with a high volume of new and extensive local developments ranging from clusters of smallish estate house developments (20-50) to practically new entire villages being formed with complete infrastructure changes planned for the near future.
Far more affordable social housing is critical for our FTB’s as are the contributions developers make through their section 106 fees help create the new schools and community projects essential for any new large community to thrive. Has it come all rather at once, with so many new builds arriving, yes, there is an argument with so many new properties being built is their actually enough people to buy them, probably at the moment the answer is ‘no’, is their an impact on the second hand market, which has a knock on effect ?, will prices go down as there is more availability , or actually go up, as new prices like cars are generally higher on first purchase ?, these are questions yet to be answered, however we believe the future needs for affordability and choice far out way the inconvenience and unknown market reactions we are seeing and are yet to see.
What is for certain is our local village of Bishops Waltham will see some gradual changes, but we believe well measured and balanced, Hedge End, Botley Horton Heath and Fair Oak will see a major transformation of its character resulting in more people being able to live affordably more local to their families, but in perhaps a busier and more crowded envoirment.