Housing site hit by the recession (From Swindon Advertiser)
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Housing site hit by the recession
11:30pm Sunday 15th March 2009 in News
The Wichelstowe development
RECESSION woes have forced Front Garden developers to focus on affordable housing, but campaigners have accused them of jumping the gun.
The site has long been earmarked for a 4,500-home development but so far only a fraction of those have been built.
The stalled development has become a symbol of the slump in the housing market, with the International Herald Tribune in New York describing it as “a glaring example of a real estate market gone bad”.
A spokesman for the Wichelstowe development said: “In view of the current economic climate a key focus at Wichelstowe at present is on the affordable homes being marketed by Sovereign Housing.
“In terms of open market properties, Bryant Homes and Bloor Homes have marketing suites on site and both have recently opened show homes at East Wichel. General interest levels in properties at East Wichel have remained strong.
“There is clear pent up demand and enthusiasm for the location and the homes and environment being created. However, to date reservations have been placed on only a few properties, reflecting the wider property market regionally and nationally.”
Terry King, from the Front Garden Action Group, said: “At the moment there is a legal challenge going on over condition 99, which concerns a tunnel under the M4.
“As far as the council is concerned they have discharged condition 99 but the solicitors for the developers are saying there mustn’t be any occupation until that is resolved.”
Mr King also voiced concerns over a noise bund that is required to dilute the noise of the M4 and the fact that any homeowners would be moving into an area with almost no facilities.
He said: “There is no supermarket, no schools, no library, a very limited bus service. I think Sovereign are jumping the gun.
“Next month we will be writing to solicitors, estate agents, developers and so on to warn them that if they don’t let people know something about the history of flooding and noise at the site they may be opening themselves up to legal challenges in the future.”
This weekend Sovereign Housing Group set up shop in the Brunel Plaza to try to entice househunters with its 42 properties in East Wichel, available as part buy, part rent.
The homes range from three-bedroom houses starting from £184,000 full price to 1-bedroom apartments from £110,000.
Suzi Lewis, from Sovereign, said that there had been keen interest in the properties.
She said: “We have had a very good response so far.”
House hunters have until Monday March 30 to express their interest. Visit www.sovereign.org.uk.
Comments(6)
Ms Hallaballo
says...
9:59am Mon 16 Mar 09
In the 1980's the Tories accused Labour councillors at Swindon (then called Thamesdown) that they wanted to turn the Front Garden (now called Wichelstow) into a massive council-housing estate.
Twenty years later, and the only houses being built with the Tories now in charge of the Council (and notably in power when the plans for development + permission granted) are houses for rent.
Fact is indeed stranger than fiction.
trustnopolitician
says...
10:27am Mon 16 Mar 09
The Sue Bates administration under labour was nothing to be proud of any more than the current Bluh administration is now - the difference is we are paying councillors a lot more to C**k everything up.
Isn't it abouit time party politics was taken out of municipal administration?
Donkey
says...
10:46am Mon 16 Mar 09
On the Right Choice website, which covers most of the local estate agents, there are probably around 1,000 properties for sale in the Swindon area ... that's some competition!
There are two and three bedroomed terraced houses in Gorse Hill, and on the estates for around £80,000, if the speculators haven't snapped them all up yet?
£110,000 for a one bed flat is at least a third more than builders can possibly expect buyers to pay in the present climate. Realistically, anyone purchasing one of these will soon find they need more space if they enter into a relationship, anyway. It is a very short-term type of accommodation and should be priced accordingly.
The Librarian says Oook
says...
11:40am Mon 16 Mar 09
He said: “There is , , , a very limited bus service.
A limited bus service, and, by design, very little car parking. I belive it works out at half a space per house.
Wichelstowe, the worst Swindon ghetto of the 2030's.
My security word is "acid-good!"
What kind of message is that to send.
real -life
says...
11:43am Mon 16 Mar 09
Al Smith says...
9:09am Mon 16 Mar 09
For that money you could get a 2-bed house in Covingham or Freshbrook or a town centre terraced house.