New Housing Estate in Swindon Approved for Construction

If there’s one consistent headline about housing in the UK, it’s that there isn’t enough.

There are too few available houses for people to buy and live in. Factor in the affordability equation, and what’s viable for many people decreases significantly. However, things may be changing soon. Newer tax laws have made becoming a landlord much less appealing. Hopefully, this leads to more homes going on the market.

The other way to increase supply is, naturally, to build more houses. Around Swindon, a new housing estate has recently been approved by the Swindon Borough Council. New housing availability does raise some questions for existing homeowners, though. Some may see an opportunity to remain nearby and upgrade. Others will be worried about the value of their own homes. So, what does the new estate mean for the people of Swindon?

New housing doesn’t decrease existing house value

It’s a very understandable line of thinking. They say house prices are up due to increased demand and not enough houses to meet that demand. So, more houses would surely lower prices. Instead, the London School of Economics has found that new builds don’t tend to bring down house prices. Essentially, there’s too much of a constant demand for more housing for new estates to make a significant impact.

Still, new houses nearby mean there’s an opportunity to potentially upgrade. It’ll more likely be this reason than an anticipated drop in value that people look into getting on the market. Of course, anyone wondering "How to sell my house quickly?" can do so online. After entering a postcode a few details, you can get a free cash offer without hidden fees. Plus, the house can officially be sold in your own time.

So, anyone eyeing up the new builds might opt for this way of selling. Completion dates on new builds can be a bit inaccurate. At the very least, this far out, they’re usually quite vague. Being able to pick a selling date can certainly help the process, and you’ll know how much cash you’ll have to buy. On top of this, there won’t be any chain to worry about from your side or the side of your new house.

New estate and rising house prices

Not long after the new estate was approved, Swindon house prices were reported to be on the rise. Apparently, house prices here are rising faster than anywhere else in the region. By

comparison to the rest of the South West, Swindon was 0.3 per cent better off. So, even with new houses reportedly on the way, prices are holding up rather well – further disproving the aforementioned line of thinking.

There has been a lot of talk for a long time about more houses coming to Swindon. In December, 1,500 homes were green-lit for land between Kingsdown and Blunsdon. In February, more plans went down seeking approval for another 60 homes on the Moredon playing fields. Now, we’ve got a 200-home estate being built right on the edge of the town, down to the south of Highworth.

Soon, anyone seeking their first house or just a different house will have plenty of options around Swindon.