A PROPERTY boom planned for the north-east will create nearly 3,000 jobs, a leading construction firm announced last night.
Hundreds of “desperately needed” properties will be built throughout the region over the next 12 months, which industry leaders say will address a “chronic shortage” of available housing.
The Barratt Group, Britain’s biggest housebuilder, has revealed an extensive programme of new developments for Aberdeen, Aberdeenshire and Moray.
Last night Barratt boss Mike Cowie said its plans were a perfect illustration of how house-building was the best way to boost economic growth.
More than 190 homes will be created at Mill Brae in Bridge of Don, while a blueprint will be finalised for the Osprey Heights development at Inverurie, which will include 611 properties.
Other projects planned by the firm include 130 flats at Kings Court, Aberdeen, 287 homes at Mugiemoss and 124 houses at the city’s Cornhill area.
Work will continue on major sites at the Grange in Elgin, Dens of Pitfodels in Aberdeenshire and Evolution in Aberdeen’s Urqhart Road, the firm’s fastest-selling development of 2013.
Barratt North Scotland said the new schemes would support more than 2,600 jobs in the construction industry and property market. The company has pledged to use predominantly local tradesmen and sub-contractors.
The plans were last night hailed by politicians as a “vote of confidence” in the local economy which would bring scores of new families into the area.
Meanwhile, property consultant Knight Frank will this year push ahead with its plan for a new village on the edge of Peterhead. The South Ugie development sees creation of 1,200 homes as well as a school and hospital.
The scheme is being progressed by Knight Frank and three landowners: businesswoman Susan Baxter, construction firm Buchan Brothers and the New Hope Trust charity.
Last night, Barratt North Scotland sales director Mike Cowie said: “The prime minister has said again and again that one of the best ways to boost economic growth and get people working is through building more homes. The plans we have announced show exactly how that theory works in practice.”
He said: “We expect to launch a number of new sites this year, with Mill Brae and Osprey Heights among the largest.
“These two projects will provide more than 800 desperately needed new homes for local people at a time when there is a chronic shortage of housing, with many more to follow through the other developments we have committed to.”
He said that the new estates would see an influx of new residents, spending their wages in local shops.
“This translates into a significant boost for local retailers at a time when concerns remain about the national financial picture,” he said. “It is exactly what the area needs.”
Last night, Stewart Stevenson, MSP for Banffshire and Buchan Coast, said Barratt’s plan for the north-east and Moray was a boost for the areas.
“This represents a great vote of confidence in the north-east economy,” he said.
“This will create lots of jobs and will help bring more families into the area. I very much welcome this announcement.”
It follows the Scottish Parliament’s launch of Help to Buy Scotland – which dramatically improves the prospect of owning a home or moving home, by reducing the deposit required to just 5%.
It provides new-build homebuyers with the prospect of a 20% equity loan from the government, with no interest payable for the first five years.