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Changes to buyer behaviour set to continue, predict housebuilders

Changing lifestyle requirements will continue to re shape the new home market through 2022, predict housebuilders in the WhatHouse? Predictions Report 2022, as demand for luxury new homes in more rural locations continues to trend. 70% of house builders asked to forecast whether the ‘race for space’ will keep the market

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Places for People honoured at WhatHouse? 2021 awards

Places for People has been honoured with four awards at the UK’s prestigious WhatHouse? awards, known as the Oscars of the new homes industry, which celebrates the country’s best new homes and neighbourhoods. In its 41st year, the awards shone a light on customer-focused housebuilders in a ceremony hosted by

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New home buyers look beyond Greater London for post-pandemic living

Data released today in the WhatHouse? New Homes Index reveals the hottest areas across Britain for new home buyer search with South East of England, West Midlands and East Midlands top of the list for August 2021.  A sign that, post pandemic, home buyers are weighing up relocation to areas beyond the traditional Greater London commuter zone and considering a wider range of regions

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Luxury new home searches soar by 25%

Data released today in the WhatHouse? New Homes Index reveals that buyer interest in luxury new build homes across Britain has increased by 25% during July, a sign that changing space requirements and lifestyle priorities continue to alter the new home market.   Looking ahead, we expect this growth to continue, as post-pandemic life returns to normal and home buyers can make firm decisions based on new lifestyle requirements.        The national average price

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BDC 319 : Aug 2024

whathouse

Changes to buyer behaviour set to continue, predict housebuilders

Changing lifestyle requirements will continue to re shape the new home market through 2022, predict housebuilders in the WhatHouse? Predictions Report 2022, as demand for luxury new homes in more rural locations continues to trend. 70% of house builders asked to forecast whether the ‘race for space’ will keep the market buoyant felt confident that we are yet to reach the ceiling in requirement for larger properties with home office, flexible family space, and access to high-quality green areas.    Overall, 71% of housebuilders reported feeling ‘cautiously optimistic’ about the year ahead  60% forecast that new build house prices would swap price peaks for continued steady growth  62% said that transaction levels would return to pre-pandemic levels  60% of housebuilders are concerned by the impact of an interest rate rise. However, those asked agree, continued economic recovery and a high percentage of fixed rate mortgages will help secure the new build housing market’s strong position  Daniel Hill, Managing Director, WhatHouse? said: “It’s still early days. We are yet to see the full impact of the pandemic on home buyers’ behaviour. Hybrid and home-based working continues to be trial and error for many businesses, once a seismic and more permanent shift takes place we will once again experience a surge in people considering relocation and hunting for more inside and outside space.”  Jamie Barrington, Sales Operations Manager, Beal Homes said: “We continue to see a large proportion of customers working from home and employers embracing home or hybrid working. This means demand for flexible space and design options, including for working space, will remain high as home working becomes the new normal and no longer a temporary novelty. It also means buyers will prioritise areas with fast internet speeds and good mobile signals.”  “The 2022 housing market should be supported by what are expected to be continuing high levels of job vacancies, feeding through to wage growth. A rising market will be driven by these factors, as well as housebuilders adjusting prices to account for increasing materials costs beyond their control, alongside changes in inflation.” 

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Places for People honoured at WhatHouse? 2021 awards

Places for People has been honoured with four awards at the UK’s prestigious WhatHouse? awards, known as the Oscars of the new homes industry, which celebrates the country’s best new homes and neighbourhoods. In its 41st year, the awards shone a light on customer-focused housebuilders in a ceremony hosted by Olympic cyclist Sir Chris Hoy and presenter Clare Balding. Places for People’s approach to design was applauded by the judges, with two houses scooping awards in the “Best House” category. Beating off stiff competition from across the UK, Millwood Designer Homes’ Beddington home at Heartenoak Meadows in Kent was awarded Silver with the Wood End at Tornagrain taking Bronze. The Beddington is an attractive five-bedroom house set in rural Kent, with elevations inspired by the local vernacular architecture and surrounded by an easy-to-maintain garden and views of the countryside. Inside this family home, designed in-house by Pete Bland, thought has been given to the high-end specification while not neglecting the importance of sustainability, with the inclusion of PV panels providing solar energy as well as the provision for a future car charging station within the garage. The Wood End at Torngrain is located in the Highlands’ newest town just eight miles east of Inverness, a partnership with landowner Moray Estates. Wood End is a three-bedroom house set within this unique landscape, where the architect Ben Pentreath has drawn inspiration from traditions of the Highlands and the rest of Scotland. The properties have been carefully planned to provide modern country living with high quality finishes. The environmental impact has also been considered, with the house well insulated and roof spaces pre-wired for connection to future solar panels East Wick & Sweetwater at Queen Elizabeth Olympic Park secured Silver in the Best Partnership award with Balfour Beaty. This new, residential-lead mixed use community is being delivered in a joint venture on behalf of the London Legacy Development Corporation (LLDC). It’s a thriving new community that seamlessly connects the development with Hackney Wick and Fish Island, and will create more than 1,800 homes, new green spaces and play areas alongside a range of retail and commercial opportunities. Button House in Hackbridge also scooped Bronze for Best Retirement Development and is delivered by their Brio Retirement Living team. This well-planned community has the ‘wow’ factor thanks to its good-looking exterior and chic communal terrace and attractive interior. Apartments are light and spacious with their own private outdoor space and there is an impressive community ethos throughout, with socialising encouraged by the variety of shared areas such as the bar/brasserie, fitness suite and hobby room. Commenting on the results, Places for People’s Group Executive Director Scott Black, said: “This is a tremendous achievement for the Group, especially amid the unprecedented challenges the industry has faced in 2020/2021. “As a leading placemaker, we continue to deliver a range of quality affordable homes across the UK and we are delighted to be recognised for the design of our homes, partnership and delivery of retirement living alongside the calibre of entrants in these highly regarded awards. “As a team, we are proud to play our part in delivering these communities, developments and homes. This is well-deserved recognition of the talents of everyone involved, who share our vision for building places where people will want to live.” For further information about Places for People, visit www.placesforpeople.co.uk.

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New home buyers look beyond Greater London for post-pandemic living

Data released today in the WhatHouse? New Homes Index reveals the hottest areas across Britain for new home buyer search with South East of England, West Midlands and East Midlands top of the list for August 2021.  A sign that, post pandemic, home buyers are weighing up relocation to areas beyond the traditional Greater London commuter zone and considering a wider range of regions in the hunt for greater space and value for money.  In August the national average price of new home property coming to market stayed virtually static at £334,801 (£338,339 in July).    Top three new home search areas during August:  1.       South East of England has demonstrated the most buyer demand during August 2021, achieving 31,293 new home buyer searches.   2.       West Midlands maintains second position for the second month in a row, achieving 19,921 new home buyer searches during August 2021.   3.       East Midlands has secured a top three search position with 16,760 new home buyer searches during August 2021, representing a 46% increase on July’s figures.   During the past six months (March – August 2021) three regions have demonstrated month on month growth in new home search.  1.       East Midlands – 46% growth  2.       Yorkshire & The Humber – 28% growth  3.       South East England – 22% growth  Daniel Hill, Managing Director, WhatHouse? comments:  “Whilst buyer’s future new home needs remain uncertain – as many employers are yet to confirm if, or when, the daily commute will return – many continue to consider a move unhindered by the need to be close to traditional transport networks, and with the need for ample home working space in mind.  This all points to buyer interest in new homes remaining strong across the UK, and WhatHouse? predicts higher than average Autumn search activity driven by continued buyer interest in relocation.”  David O’Leary, Policy Director, Home Builders Federation said:  “Buyer interest and appetite for new builds remains high with the clear focus of builders very much on finding a way through a number of thorny supply-side challenges. Materials availability continues to cause headaches and planning delays bring uncertainty and additional expense”. 

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Luxury new home searches soar by 25%

Data released today in the WhatHouse? New Homes Index reveals that buyer interest in luxury new build homes across Britain has increased by 25% during July, a sign that changing space requirements and lifestyle priorities continue to alter the new home market.   Looking ahead, we expect this growth to continue, as post-pandemic life returns to normal and home buyers can make firm decisions based on new lifestyle requirements.        The national average price of new home property coming to market has stayed static at £338,339 in July (£338,042 in June).          Top three new home search areas during July:       South East of England has demonstrated the most buyer demand during July 2021, achieving 25,719 new home buyer searches.        West Midlands continued its climb for the second month in a row, jumping from third to second position, achieving 23,683 new home buyer searches during July 2021.        North East of England has secured its first top three search position with 13,581 new home buyer searches during July 2021, representing a 170% increase on June’s figures.         July has achieved a +32% increase in new home demand, recording a total of 166,137 new home buyer searches, compared to 126,199 during June 2021.  Daniel Hill, Managing Director, WhatHouse? comments:  “Changing lifestyle requirements continue to re shape the new home market, and nowhere is this demonstrated more clearly than in July’s WhatHouse? New Homes Index.  London has been ousted from the top three new home search table, supplanted by West Midlands and North East, both experiencing spikes in search.  It’s also interesting to note that total luxury new home searches increased by 25% during July.  The East Midlands, West Midlands, North West and Scotland all top performers – reporting a +45% luxury new home search increase since June.          This all points to a large scale post-Covid re-evaluation amongst home buyers.  As employers firm up plans for flexible work-from-home expectations, home buyers are now able to confidently consider space requirements and lifestyle aspirations.  What the WhatHouse? New Homes Index is demonstrating is a growing desire amongst buyers to consider luxury new homes in regions that may previously have been beyond their search comfort zone.” David O’Leary, Policy Director, Home Builders Federation said:  “As the wider market settles into equilibrium, demand for new homes continues to be robust with many builders reporting strong forward order books. More than ever homebuyers, both first-time buyers and home movers, appear to be putting an emphasis on the low running costs and improved energy efficiency that new homes provide.” 

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