Continuing our series of blogs focusing on local developments in the regions we cover, we take a closer look at the Aylesbury Masterplan regeneration project, and how it might affect the property market in the area.
What is the Aylesbury Masterplan?
The district council is leading the regeneration programme and has already built and opened an award-winning £48m theatre – Aylesbury Waterside – which regularly features shows from London’s West End as part of its varied programme. In 2014, a new Waitrose, Travelodge and car park opened and in 2015, University Campus Aylesbury Vale opened at the head of the canal basin giving the town its first university presence.
In autumn 2016, the next phase of redevelopment will begin when construction starts on five restaurants, around 47 one and two bedroom apartments and a fantastic new public square. The scheme will open in spring 2018.
How will the regeneration affect the area?
The regeneration will entice people of all ages into the town as it is transformed into a vibrant destination both day and night. Creating attractive public spaces will mean more people will want to socialise in the area. University Campus Aylesbury Vale, an alternative to higher education options in Oxford or High Wycombe, will see more young adults and mature families moving to the area. Coupled with great transportation links, Aylesbury is likely to prove popular for those considering a move to the region.
Selling and buying property during Aylesbury’s regeneration
Initially, we expect the biggest impact on house prices will be felt closer to the town centre as there will be more reasons to be there and to benefit from what it has to offer. However, this is expected to spread to the rest of Aylesbury as buyers realise how easy it is to access the new developments on their doorstep.
At the moment, prices are rising higher and faster than previously recorded. For those selling, if you are looking to move to a more expensive property then by selling now you may benefit from the increase on a larger investment.
It is likely that prices will continue to rise, so if you are considering a move to the Aylesbury area, now would be a good time to consider your options. Move now and reap the rewards later.
If you are interested in selling or buying property in Aylesbury, and would like to explore your options, contact our local Aylesbury estate agents for expert advice.
Correct at time of publication. The views and opinions expressed herein are those of the individual contributor and do not necessarily reflect those of the Chancellors Group of Estate Agents Ltd or its subsidiaries. References to legislation, best practice and other matters with legal implications such as fees, rules and processes are included for information and editorial purposes only and are not authoritative, nor should they be interpreted as advice. When in doubt you should only take advice from an industry professional or solicitor where appropriate. E&OE.
