Town regeneration and it's effect on house prices

Discussion in 'UK Property' started by Mumblemonster, Sep 17, 2018.

  1. Mumblemonster

    Mumblemonster New Member

    Hi All

    Newcomer here! :)
    I am currently on my second 'rung' of the property ladder with intention to sell and move onto the next 'rung'.

    My current property is in Woking, this area is going through a £500M+ regeneration, which could impact house prices in a good way...
    The regeneration is loosely estimated to be fully complete in 2021.

    Now, my question is, do I move before the regen is complete (my property has already increased £100k in 5 years, excluding any home improvements)
    or, do I wait for the regen to be fully completed to reap the full benefit it could have on house prices in the area?

    I am keen to move slightly closer to work as my commute is currently longer than I would like, but at the same time I do not want to miss out on my property flying up in value...
     
  2. FWL

    FWL Member

    I think you also need to take into account the area in which you are looking to reinvest after selling your current property. Is there potential for prices in this area to increase at the same or faster rate than those currently in your neighbourhood? I tend to think that many investors buy prior to the completion of regeneration, often pushing prices too high in the short term. However, on the flipside of the coin, on numerous occasions we have seen new regeneration projects announced after existing ones come to an end - all in the same area.

    Is there a possibility you could rent out your current property, thereby taking advantage of any long-term increase in property values, and also afford a mortgage on a new property?
     
  3. Mumblemonster

    Mumblemonster New Member

    I hadn't thought about it from that perspective.
    My intention would be to move further away from London (to get more for my money+closer to work), so it would make sense for me to stay put till the regen is complete.
     
  4. Longterminvestor

    Longterminvestor Administrator

    A lot of people have started to cash in their “London premium” but I think you are in a slightly different situation because there is regeneration in the area. The big question is, is the majority of the value brought about by regeneration already in the price of property in the region?
     
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