What Kind of Criteria Is Used for a Housing Viability Assessment?

02.02.10 |

Housing and commercial construction projects only get approval once they’ve passed a housing viability appraisal. Typically these appraisals are put through by a professional consultancy dedicated to carry out such appraisals, like Three Dragons. But what kind of criteria ought this type of proposed dwelling fulfill so it can be advised as viable? Some basic requirements could be :-

• a taking into account of the industries and common earnings in the area near-by the projected site
• accessibility to the suggested housing project via car, train, bicycle, and on foot
• the projected sale/rent price of the types of housing (or office units if it’s an industrial park) in relation to the local people
• ongoing population changes in the near-by region
• the construction / design financial cost for the suggested new development zone
• the up-to-date housing price value of this type of housing and also consideration to likely market price movements
• impact the development could inflict on surrounding transport roads
• recent experiences of alike housing projects around the country
• impact to the nearby schools and colleges

That gives you simply a basic approximation of the kinds of things such projected new property zones are evaluated for. A negative impact by one or more of the above points could forstall the whole project. Naturally, there will be other matters particular to each individual development property plan, and other issues not listed above.