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20-year plan for Hampton remains on track
Hampton is halfway through a 20-year development to build 7,500 new houses.
Hampton is halfway through a 20-year development to build 7,500 new houses.But with fewer people moving, is that plan likely to be delayed?
"We are expecting in finishing in 2019 or 2020 now instead of 2017," said Roger Tallowin, the general manager of O & H Hampton, the landowner and master developer of Hampton.
"Obviously, people are buying fewer homes at the moment and so we are seeing less demand from builders, which is slowing down the process.
"But people are still buying. Where once we would see 40 houses a month sold in Hampton it is now nearer 32.
"However, because house prices here, and in Peterborough generally, never got really high, as in some parts of the country, we aren't suffering as badly as the places that did see inflated prices.
"We didn't see the amazing property price highs, and so we're not seeing the huge lows.
"We knew when we started the project that it would take 20 years, and we knew that during that period there would be economic downturns – and we are prepared for them."
Related:
Credit crunch won't stop 1billion Peterborough masterplan, Jemma Walton, 1 October 2008.
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Sunday 12 February 2012
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