It’s Thursday and time for another of our Property News Updates!
Each week we take a look at what’s been hitting the pages of the national and local media and bring you the most interesting and informative stories from across Derby and beyond!
This week, unsurprisingly, the focus has been firmly on the impending end of Covid restrictions and the England football team, but our friends over at Derbyshire Live bring us some interesting updates on the development of the old Debenhams site, with work beginning on the construction of new apartments starting today.
Following on from this, Derbyshire Live have also reported on yet more apartments planned for the City Centre, with the real estate above Dorothy Perkins and Burtons being earmarked for development.
What do you think?
Does the City need more central apartments?
It will certainly help bring some of the empty buildings back in to use, but is it too much?
With the need for housing in mind, the council have outlined plans to spend £1.2 million to acquire property in several areas of Derby, including Mackworth, Darley, Spondon, Stenson and Alvaston.
They say there is high demand for affordable accommodation in these locations and these purchases will boost the housing stock and shorten waiting lists, take a look at the full report here: https://www.derbytelegraph.co.uk/…/derby-council-spend…
Further a field and BBC News have another report highlighting that a lack of supply is likely to increase and cause the current property price rises to continue, as we highlighted at the start of June, take a look at the full report here: https://www.bbc.co.uk/news/business-57754558 and Derbyshire Times is reporting worries from the North of Derbyshire that these price increases are effectively making first time buyer homes in certain areas no longer affordable, something that is a particular problem in rural areas, take a look a here: https://www.derbyshiretimes.co.uk/…/north-derbyshire…
Rightmove states that the current average price for a first time buyer home now stands at £205,995, so we thought we’d take a look at what you can find in Derby for that price and under, you might be surprised at what £205,000 can get you!
We’ll reveal all in our next blog post, so stayed tuned!
As always, for all the latest property news, market updates and expert advice, just get in touch with your local Hannells branch!
If you are thinking of making a move, just click the link below and book your FREE valuation!
