There has been a big building boom of new homes in my neighbourhood.
A lot of new houses are being built in our neighbourhood.
この場合、次のように言うと良いと思います。
ーThere has been a big building boom of new homes in my neighbourhood.
「近所は新築ラッシュだ」
「新築ラッシュ」は a big building boom of new homes のように言えます。
次のように言うのも自然ですよ
ーA lot of new houses are being built in our neighbourhood.
「たくさんの新しい家が近所で建てられています」
are being built の代わりに are going up のようにも言えます。
ご参考まで！
カナダ 
