A new model designed to identify areas where housing is desperately needed in England has pinpointed that some towns in the North and South West have attractive conditions for residential development, according to new research from CB Richard Ellis.
Harrogate and Skipton in Richmondshire, North Yorkshire, scored highly reflecting low levels of house building combined with high house price growth and good employment prospects. Similar conditions exist in Wimslow in Stockport and across Cheshire.
In the south west, Dartmouth and Salcombe in Devon scored highly due to the massive house price growth both areas have experienced over the last decade.
Predictably Kensington and Chelsea topped the list of development hotspots, but St Albans in Hertfordshire came a close second outperforming London Boroughs such as Camden and Hammersmith and Fulham.
‘Attractive development prospects are not limited to London and the South East and there are a number of excellent opportunities in other regions. Harrogate and Skipton, for example, could make attractive development prospects as indicators point to a surge in demand over the next few years,’ said Jennet Siebrits, head of residential research, CB Richard Ellis.
‘There is a chronic shortage of housing across all tenure types in the UK. Developers and property companies are keen to restart building programmes, but continued funding difficulties mean the ability to develop is limited to those with healthy balance sheets,’ added Siebrits.
