New homes in Redbridge – what's the story?

Plans for 18,474 new homes in Redbridge over the next 15 years were outlined at a council meeting last week when councillors met to discuss a draft version of the Local Plan for housing in the borough.

At least 32,000 new homes are needed to meet growing demand by 2020, the draft report found, but projects to make this so aren’t without local opposition. 

For example, there has been widespread protest against the planned development of 800 new homes on the Oakfields Playing Fields in Barkingside.

However, a proposed change by Councillor Nick Hayes – recommending that the land be designated as local public space – was rejected by the majority of councillors.

The reason put forward for this was the councillors’ eagerness not to close doors on any potential options. As Councillor Varinder Singh Bola put it: “We are discussing the housing plans for this borough for the next 15 years” – with all ideas put on the table and none dismissed at this this early stage.

Circumstances could change in the future, which is why the council seem keen to keep all their options open at this point. 

The Local Plan draft will be discussed by cabinet on June 7 and then the full council on July 21. If it is approved, a consultation period will then follow in July and September before the plan is then submitted to the Secretary of State in the autumn. 

As one of the leading independent estate agents in the borough of Redbridge, we at Sandra Davidson are encouraged by these plans to further develop and grow the borough. 

It can only be a good thing for the local property market if more new homes are built, more first-time buyers are attracted to the area and more homes are available to rent. 

While concerns about open space are absolutely justified, if these can be worked around in a satisfactory way then it will to the benefit of all of Redbridge’s inhabitants.

As London’s population continues to grow outwards, areas like Redbridge are in the perfect position to take advantage of this increased demand. 

The noises being made by the council – and the news that more than 18,000 new homes are in the offing – certainly gives us reasons to be cheerful.

If you would like to find out more about the services we offer, please contact us on 0208 551 0211.

What's more, you can find out how much your property could be worth in the current marketplace by getting a free and instant online valuation. 

Property prices per square metre – Greater London dominates

Property prices per square metre have increased by 432% in Greater London in the last 20 years – against a national average increase of 251%, according to new findings from Halifax. 

Over the last two decades there has also been a widening gap between London and the South East and the rest of the UK when it comes to prices. 

Since 2011, this has become even more pronounced, with London's property boom ensuring that prices in the capital have grown by nearly double that of the rest of the country.

It is therefore no surprise that the most expensive area in Britain to buy a home can be found in London.

There are seventeen areas – all located in Greater London – which have an average price per square metre of above £5,000. 

At the other end of the spectrum, Airdrie in Scotland had the lowest average price of £1,019 per square metre. 

Four of the six towns with the lowest prices per square metre were from north of the border, with two in Wales – Llanelli (£1,028) and Neath (£1,065) – and four in northern England. 

More than anything, Halifax's research showed that the North/South property divide is bigger than ever, and only looks to increase further as the prosperity of London and the South East continues to draw jobs, investment and labour. 

While this is bad news for sellers outside of southern England, those who are looking to sell their home in London and the South East have much more reason to be cheerful. 

With a well-targeted and well-marketed property, sellers should have no issue in achieving their asking price or above. 

Demand has shown no signs of slowing down, with the first-time buyer market currently thriving thanks to tax changes on buy-to-let properties.

For more information about how to get your home sold, please get in contact with Sandra Davidson on: 0208 551 0211. 

As the leading independent estate agent in Redbridge, we have the skills, experience, local knowledge and know-how to get your home sold for the best possible price.

If you would like to find out an estimate of your property's current market value, check out our free and instant online valuation tool