A recent and exciting initiative that seeks to unlock brownfield zones could hugely benefit those seeking housing in the Gloucester area and the redevelopment of the county as a whole.
Failing to meet demand
Major UK housebuilding firms reportedly have land banks with the capacity to provide more than half a million new homes, but they are failing to make progress and meet immediate demand. As a result, the government is expected to distribute up to £6.3 million as part of a nationwide attempt to revive brownfield sites. There is increasing demand for affordable housing and a corresponding desire to move to areas that are seen as vibrant and attractive. Initiatives such as these can further stimulate development in other key areas of counties, such as business growth and investment.
Potential Challenges
However, the development and repurposing of brownfield areas is not without its challenges. Harry Breakwell of Gloucestershire-headquartered national property experts Bruton Knowles commented: “Brownfield land with planning permission for housing can generally be bought more cheaply than other land but it’s cheaper for a reason.”
He went on to say: “Usually… it has additional development costs associated with it [such as] demolition of existing commercial buildings and possible contamination costs are examples. So whilst land costs might be cheaper, build costs can be more expensive.”
Addressing Concerns
The Government housing initiative aims to address some of these concerns by providing some of the funds and resources required to make more difficult sites useable again, particularly for building homes. The plans mean that many people who are seeking homes and flats for sale in Gloucester visit websites such as www.tgres.co.uk to assess availability and even seek advice on housing policy from official government sites such as GOV.UK.
Nationwide, the construction of housing is a hot political topic. A recent article published by the BBC saw Prime Minister David Cameron pledge to commission 13,000 new homes.
A combination of schemes is also expected to have the capacity to deliver up to 45,000 new homes. The recent Starter Home Fund of £1.2 billion specifically aims to prepare brownfield sites to accommodate new homes. The Government has reportedly undertaken a further eight shortlisted development zones, and local councils will receive funding to assist the work undertaken in an ambitious total of 20 Housing Zones.