Did the Chancellors housing market boost give a small lift to the sector?
The Chancellor George Osborne’s Autumn Statement last week announced 35 transport initiatives that will boost a number of locations and thereby boost prices in the surrounding areas.
It may of been a slightly hidden benefit but it is expected to help boost the housing market in North Cambridge, North Buckinghamshire and North Oxfordshire and South London looks like finally getting the Northern Line Tube station as part of the Battersea Power Station redevelopment.Some are calling it the “Battersea buzz” and are seeing a large property price increase with anything from 10 to 20 per cent ahead seasonal prices.
More housing market boosts will come next year in 2012. The Chancellor is funding improved links to the M56 and A6 at Manchester Airport.
Improved transport infrastructure always boosts the house prices. It is always a main factor in the choice home buyers make if relocating. Additional benefits will be seen the M3 near Portsmouth will similarly enhance some employment hotspots.
Housing market boost
The Chancellors housing market transcript:
We can today give the go ahead around the country to 35 new road and rail schemes that support economic development.
The Chancellors housing market boost started in the North West.
He continued…
We will electrify the transpennine express between Manchester and Leeds, build the Manchester Airport and Crewe link roads and work with Merseyside to turn the vision of the Atlantic Gateway into reality.
In Yorkshire and the Humber, there will be new stations and new tram capacity – and we will halve the tolls on the Humber Bridge.
I want to pay tribute to my HFs the Members for Beverley and for Brigg and Goole for campaigning with other local MPs over many years to make this happen. Under this Government it has.
In the North East we will bring forward investment on the Tyne and Wear Metro.
In the Midlands, the A45, the A43, the A453 link, the Kettering Bypass, and the M1 and M6 will all be improved.
In the South West, the Bristol link road and the A380 bypass will go ahead.
And for families across that region facing the highest water charges in Britain, the Government will cut the household bills of all South West Water customers by £50 a year.
In the East of England, we will make immediate improvements to the A14.
In the South East, we will build a new railway link between Oxford, Milton Keynes and Bedford that will create an estimated 12,000 new jobs.
Start working on a new crossing of the Lower Thames.
Chancellors housing market boost continued with news on how he will explore all the options for maintaining the UK’s aviation hub status, with the exception of a third runway at Heathrow.
Right here in London we will work with the Mayor on options for other new river crossings, for example at Silvertown.
And we will support the extension of the Northern Line to Battersea in partnership with the private sector. This could bring 25,000 new jobs to the area.
Devolved administrations in Scotland, Wales and Northern Ireland will get their Barnett share – and we’re working with them to improve the links between our nations, such as the M4 in South Wales and the overnight rail service to north of the border.
This all amounts to a huge commitment to overhauling the physical transport infrastructure of our nation.
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