New developments boost local house prices

New research indicates that new housing developments criticised by local residents for harming their house prices could actually be a boon for local property values. Online property lender Blend Network found that 17 of the top 20 areas for new homes built between 2011 and 2017 enjoyed house growth higher than the national average. Yann Murciano, of Blend, said: “Many homeowners assume large housing developments in their home towns will have a negative effect on house prices. But in many instances we found the opposite was true.” Simon Rubinsohn of Rics commented: “It is fundamentally about whether enough homes are built in an area compared to the number of people that want to live in an area.”

The Daily Telegraph (09/06/2019)