New homes set to benefit from ‘Ebbsfleet Effect’

According to a recent report produced by transport consultancy Colin Buchanan and economic consultants Volterra*, property values near the Channel Tunnel rail link stations are predicted to rise by a total of £1.6bn when high-speed domestic services start to operate into London this year.

Homes around Ebbsfleet International station in Kent are set for the largest rise. Known as the Ebbsfleet Effect, homes in this area are expected to increase in value by up to £30,200, or more than 14 per cent of their average current value. Springhead Park, by joint developers Countryside Properties and Land Securities, is the first residential community at Ebbsfleet Valley and could be one of the best places to buy in 2009.

From December 2009, residents at Springhead Park will be able to take advantage of the new domestic service to London St Pancras, with a journey time of just 17 minutes from Ebbsfleet International station, which is adjacent to the development.

Katy Goodman, Development Manager for Land Securities commented: “Springhead Park isn’t just another development of new homes; it stands apart from the crowd as its residents will benefit from major improvements to local facilities and infrastructure that will enhance the area, and in turn provide good investment potential that doesn’t rely on an overall rising market.”

The study of the economic impact of the rail line, High Speed 1, anticipates a £7.3bn economic boost to Kent over 60 years, largely arising from journey time savings and regeneration along the route. It also foresees disposable incomes in Kent rising because of the closer proximity of London, with 7,500 more people able to commute to London as a result of High Speed 1, pushing up local residents’ earning potential.

Springhead Park provides a mix of one and two-bedroom apartments and two, three and four bedroom homes. Many of the homes will be centred around a large two and half acre new formal park Penn Green (equivalent to one football pitch) and a new 15 acre park which will run along the edge of development, together with a community centre, a place of worship and a doctor’s surgery.

Residents will also benefit from the fact that Springhead Park is the first community in the UK with ‘Fibre to the Home’, a built-in fibre optic technology that will mean every home will be able to experience hyper-speed digital services, including up to 100MB broadband access, only previously enjoyed in a high-tech business environment.

Ian Hepworth, Sales Director for Countryside Properties commented: “Many developers advertise their schemes as good investments, but often there isn’t the surrounding regeneration to support the growth. Springhead Park is part of a major regeneration scheme which is set to significantly improve the surrounding area, providing local property with good mid to long term investment potential.

“With plenty of incentives designed to help buyers who want to get on or move up the ladder in 2009, purchasing a property at Springhead Park this year, could be one of the best decisions you ever make.”

Not only is Springhead Park a great opportunity for investment, but joint developers Countryside Properties and Land Securities are also helping first-time buyers struggling to get on the property ladder, with interest levels high in the imminent launch of the Government-backed HomeBuy Direct scheme.

With the scheme, first time buyers are able to secure a brand new apartment at Springhead Park for just 70% of property’s asking price upfront, making an attractive one bedroom apartment at the development an affordable £89,950 with HomeBuy Direct and two bedroom apartments costing from £119,950.

Two bedroom houses are also available priced from £185,000, three bedroom houses from £230,000 and three bedroom town houses from £235,950. Countryside Properties and Land Securities are also offering a full Part Exchange scheme.

For further information, log on to Springheadpark.co.uk.

* Economic Impact of High Speed 1, by Colin Buchanan and Volterra, March 2009.