New research from Knight Frank & Barton Willmore
Planning and the provision of new homes in the countryside is always an emotive subject and, once again, housing has risen to the top of the agenda across the country
While there has been significant progress in boosting development levels since the financial crisis and the introduction of the National Planning Policy Framework there is still some way to go. At a time of pressing undersupply of new homes across the country, new research from Knight Frank and planning and design consultancy Barton Willmore has identified Local Authorities where economic and planning data, combined with regional knowledge, suggest good fundamentals for future residential development.
The detailed report covers forecast economic and employment growth as well as future housing supply and demand, among many other factors. The study resulted in a list of areas where the fundamentals suggested development opportunities highlighting parts of the country that offer the greatest potential for price outperformance and market absorption - a number of which were identified to be in the area covered by the Knight Frank Oxford office.
In particular, Cherwell and South Oxfordshire have been identified as key development opportunities
Both are set to benefit from transport infrastructure improvements with a new train line taking passengers from Oxford Parkway and Bicester Village to London Marylebone and a possible new junction to the M40 at Bicester. Bicester has also been identified as a Garden Town which will translate into more funding and support for housing. Further south the Science Vale in South Oxfordshire is positioning itself as a global hotspot for enterprise and technology.
In order to assist with potential new residential development Knight Frank has recently launched an Oxford based land team expanding into the City, re-establishing its land and development presence for the first time since 2007.
James Coker, a Partner at Knight Frank of 14 years, will lead the department’s expansion in this key area, assisted by Jonathan Wish. The business will focus on residential development opportunities within Oxford and the surrounding areas.
Previously based in Stratford-upon-Avon, James has a wealth of experience having worked with many Local Authorities and some of the biggest national housebuilders including Bovis Homes, Barratt Homes and Persimmon Homes. James has also previously been involved in advising public sector clients on local regeneration issues and sustainability. In the newly reformed department Knight Frank is already working with Oxford City Council acting as advisors to a project at Temple Cowley Pool.
James Coker comments: “We are pleased to be back in Oxford after eight years and are busy investigating the current residential development opportunities in the City, South and West Oxfordshire and the Vale.
“The team is keen to review opportunities presented by emerging Neighbourhood Development Plans and continue to respond to requests for advice from landowners, both large and small.
“The planning environment and on-going government policy continues to highlight housing as a priority and we are keen to help landowners and developers alike to bring forward potential opportunities.” Copies of Knight Frank’s latest UK Development Hotspots report and further advice is available from James Coker. Please contact him on 01865 790 077 or by email firstname.lastname@example.org
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