Despite a year of uncertainty, with a successful Brexit vote, the introduction of new housing legislation and Donald Trump’s successful bid to become President of the United States, the UK property market has enjoyed an extremely positive year, and this has certainly been felt within the local area.
In fact, the East Anglia region is in fact thriving in the aftermath of the Brexit vote, in terms of new property developments. 2016 has proven to be a big year for the region, leading to a sense of excitement amongst those living and working in the region. With people’s lives getting ever busier, buyers are looking for properties with minimal work to be done, and with efficiency ensured, so new builds make sense in terms of people’s needs.
East Anglia has seen several projects underway to support the growth and development of new properties. Only a few days ago, Princess Anne officially opened a £3.1million affordable housing project in Bury St Edmunds, thanking the developers for their hard work and admiring the success of the project. The first tenants of the project moved in to Perry Barn Close earlier in June.
An equally exciting opportunity is the impending development of the ‘Winerack’ project on the Ipswich Waterfront which is set to be ready within the next two years. The Ipswich Waterfront has become an increasingly popular hotspot for property developers and local businesses with new restaurants and retailers being introduced all the time.
The ‘Winerack’ marks the latest development in the area. The developer of the project, John Howard, hopes to start work on the scheme to finish the skeletal building in January next year.
The year has also seen the release of new green fields available for development in the North of Ipswich, as well as surrounding villages such as Martlesham, providing new opportunities for local businesses and property developers. Whilst 2016 has proven to be an exciting year for new developments within the area, 2017 is set to continue the trend.
With prices seemingly pushing people from the capital, East Anglia and similar areas have had the opportunity to fulfil their undoubted potential. This has no doubt had a direct effect on the success of the region’s housing market, and has made it possible for local businesses directly involved with property in the region to capitalise.
At Nicholas Estates, we have certainly enjoyed this new emphasis on property development, selling units in advance of project commencement, let alone completion. We are one of the most recognised estate agents in Ipswich and the surrounding area. With three branches, we pride ourselves on our knowledge of the local area, helping first-time buyers, families and older buyers looking for a property to retire in.
We’ve have worked closely with developers throughout the year, providing new builds for buyers and landlords across the county, which has helped to ensure that demand from property developers has remained high. This trend looks set to continue into 2017 with interest in new builds high already.
If you’re a developer or a buyer looking to discuss developments on the local property scene, why not pop into Nicholas Estates branches in Felixstowe, Ipswich town centre and on the Ipswich Waterfront? Alternatively, you can call us on 01473 251098.