Recent research published by Halifax provides a welcome reminder that property still remains a good investment in the long term.
Its figures showed that house prices had increased by 105% in inflation-adjusted terms over the last 10 years (the largest rise of any decade in the last 50 years) and Taylor Wimpey West Midlands is seeing these green shoots of recovery in the investor market at its St Peter’s Walk development on Wednesfield Road - a timely regeneration of Wolverhampton’s famous Chubb Locks & Safes Works.
A seasoned property investor snapped up six properties just after Christmas, normally a very inactive time for property investment, while there’s also been renewed interest from young professionals who want to be within walking distance of the city centre, plus nurses and hospital workers at nearby New Cross Hospital.
Sales & marketing director, Jan Titley, says: “St Peter’s Walk has really smartened the local area up, while The Bluebrick development nearby is also very prestigious and the Canalside Quarter regeneration programme is putting this side of the city on the map. And just down the road the other way, Bentley Bridge Leisure Park offers cinema, shops plus good sports and leisure facilities.
“We only have 12 two bedroom, two bathroom apartments remaining now, but they’re ideal for friends and colleagues sharing or young couples starting out - and from just £77,995 to £83,500 and including allocated parking and entry phone system, they’re still a bargain even in today’s tougher market.”
With space at a premium, clever design fuses naturally with intelligent planning at St Peter’sWalk, which also features traffic calming measures designed to keep speeds down to walking pace. Dwellings with balconies surround and overlook a large, central area of public open space, which effectively looks and acts like a village hub.
It’s based on the ‘homezone’ concept that’s very popular in Europe and the basic idea is that when you step out of the door you have priority over cars. Equally, houses are grouped in to clusters with shared areas and this way you get to meet people and have access to your own green spaces. Indeed, there is a very active Residents Association at the development which has quickly fostered a real feeling of community spirit and belonging.
See Also: Property News (6711), Taylor Wimpey (1863), Halifax (13), Wolverhampton (7)
Date Published: 25 February 2010
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