New homes are the remedy for recession – Paul Beresford reports

By the Beresfords Marketing Team - 18th July 2012

The latest research suggests that the number of new homes built this year could fall below 100,000 – significantly less than the Government’s target of 185,000.

With the number of new households growing by 223,000 each year, this could not only spell bad news for buyers in Essex, but also the wider economy.

Every new home that is built requires a team of people that goes beyond simply the builders, plumbers and electricians involved in the construction phase.

Often, buyers of a new home will buy new furniture from their local department store and pay a visit to the nearby garden centre to stock up on plants, all of which has a multiplier effect on the local economy.

Larger developments such as Cherry Tree Park in Billericay, where a brand new community is being built, will take many years to complete, not only providing an immediate boost to an area as people move in, but also generating jobs for local people over the longer term.

For the first time, the number of rental properties owned by individuals has surpassed those owned by local councils and Housing Associations. An increase in the number of new developments would help to counter this as house builders play a major part in the provision of affordable homes as part of their private developments.

Developers in Essex are crying out for land to build on; encouraged by the steady stream of people that want to live amid some of the UK’s most beautiful countryside and within easy reach of London.