X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Property Prices

    New build developments increase local prices?

    Afternoon PT!

    Walking around my investment area today and a question popped into my head that I couldn’t work out.

    Will an area of residential property increase or decrease in value when a new housing development is built near by?

    Had a few pros and cons for both sides thought out but what do you think / know?

    0
    0

    Omega Property (Formerly SBS Ltd.)

    I am not professionally trained to give advice, generally posting for the benefit of the community or my own personal development.

    Hi SBS

    I used to contract to a lot of the major house builders years ago ( as a tradesman) and obviously the site agents would get the normal moans and groans regularly from the neighbours of the new site, ie noise, disruptions, didn’t want the development in the first place etc... but what I did hear from some of the agents ( off the record) was that people always moaned but as soon as the development was finished.... the existing property prices rose... how true this is it was I don’t know.....food for thought maybe???

    1
    0

    Hi SBS LTD, such a great question and one I’ve never really thought about before! It would be interesting to know what does happen to the other residential properties when a new development is built. What are your pros and cons for both sides?

    0
    0

    Transparency notice: OneandOnlyPro is a commercial partner of Property Tribes.

    I am of the belief that a new development does increase all house prices in the area, particularly if it is a poorer area, and the new development raises the "look" of the immediate surrounds.  Developers tend to sell at a premium anyway, so more houses gives greater data for Land Registry comparables.

    1
    0

    The average house price for the area I live in, is being given a boost due to a large amount of house building going on.  I hope it will translate into higher value for the properties I own in the area too over time.

    0
    0

    Yes prices for second hand property should get a boost as buyers will look at premium price per sq metre for new builds and be glad to get better value via second hand property.

    0
    0