Cambridge is no stranger to the spotlight of course. But when the media turned its attention to the new development of Northstowe recently, it highlighted the importance of the area in terms of housebuilding. And there’s no doubt that Cambridgeshire is one of the UK’s regions that desperately needs more homes.
The local economy is booming, with more jobs than job seekers, and home buyers being pulled to the area like iron filings to a magnet (and a very nice, picturesque one at that). The Cambridge quality of life is giving the London lifestyle a run for its money – it’s a good alternative to the fast-pace of our capital.
And it’s all happening a few miles north of the city on an old RAF base – Northstowe’s construction is due to kick off in the New Year. And when the Government announced it would be building and selling the houses, the nation’s media lapped up the story.
As part of the National Infrastructure Plan the Homes and Communities Agency is leading on the build of around 10,000 new properties in total. Northstowe is also being used as a trial model to see how feasible direct government involvement is. If successful, the strategy could be rolled out to other developments around the country.
It’s the first time since the early ‘70s that the government has owned the land, led on a project of this scale and commissioned homes. The theory is that new homes will be built quicker (almost twice as fast as the usual routes), helping to meet demand for housing.
20% of the first phase of 1,500 homes will be affordable housing, and as usual, when it comes to new homes, we’re keeping up-to-date on Help to Buy deals. If you want to stay in the loop on mortgages for new homes, have a chat with one of our team.