New homes stocks are up by a quarter. Official figures show that newly built properties rose by 25 per cent year on year in 2014-15 - the biggest increase that there has been in 28 years.
As long ago as 2007, the government was feeling the pressure of an impending housing crisis and it reacted by announcing that 4 million new homes would be built by 2020. Successive governments have pushed through changes to planning laws, as well as buyer incentives such as Help To Buy, aimed at improving the situation.
After years of real estate projects being mothballed due to the economic slump, some 170,690 homes were added to the country's housing stock, once demolitions had been taken into account, according to figures from the Department for Communities and Local Government. Of these homes, 155,080 were new-build properties - and the trend looks set to continue.
This autumn bears fruit for property developers who have laboured through the summer, as they preside over the launch of some big schemes across north London and south Hertfordshire. First there was Barnet, then New Barnet, now Meyer Homes is launching Newest Barnet, with 31 apartments and houses in Victoria Road. The Sambroke Apartments consist of 12 two-bedroom units and a pair of three-bedroom penthouses, while the Garden Apartments is a trio of two-bedroom flats in their own block. There are four three-bedroom "mews" houses and four- and two-bedroom villas.
Also in New Barnet, TwentyOne is a new scheme of 48 apartments with a choice of one or two bedrooms. Built by Quinata Property Group, the apartments start from £260,000 for one bedroom and £345,000 for two bedrooms, through new homes specialist Preston Bennett.
Oakwell Grange has three-, four- and five-bedroom houses, close to Totteridge and Whetstone underground station. And bear in mind that you do not simply build new property, sell it and walk away these days - Oakwell comes with a £2 million investment in local education, health, sport and recreation. Developer David Wilson Homes is spending £662,560 on education and £450,000 on sports facilities in the area, including buildings for cricket and football.
Further into the Hertfordshire countryside, Comer Homes has been redeveloping a series of grand 19th century buildings at Royal Connaught Park in Bushey Heath. But now the first newly built homes are going up. Eton House will offer 12 new two-bedroom apartments; Argyll House will have 26 two- to four-bedroom apartments.
Linden Homes is offering one- and two-bedroom apartments and three- and four-bedroom houses in Borehamwood. The three-bedroom townhouse, The Chaplin, is for sale from £515,000.
Nearby Elstree House is a conversion of a six-storey office building, covered externally in granite. Developers have benefited from temporary rules allowing office buildings to be converted to residential use without planning permission. "Elstree House is being transformed into 79 luxury apartments (each with outside space) with parking, a gym, garden and children's play area," says Grant Alexson, principal of agent GA Residential. "This scheme is a direct result of the government's new Housing and Planning Bill, allowing offices to be converted into homes."
The developer has already completed schemes in Camberley, Reading, Farnborough and Hertford; all sold out quickly on completion.
In St Albans, Crest Nicholson is making community the mainstay of its marketing campaign for Napsbury Quarters, where it has refurbished a mix of three- and four-bedroom town houses and one- to three-bedroom apartments. Leisure options include a golf society, tennis courts, park areas and even book clubs. Agent is Aitchisons.
It has become harder for house-builders to gain public acceptance for planned projects. People seem to be generally reluctant to see big property schemes built. But a willing government has made developers' life easier and may help steady property prices in hotspots such as the South-East.
