Market confidence amongst housebuilders within the Thames Valley stays excessive, in response to analysis not too long ago carried out by regulation agency Blandy & Blandy.
72% of these surveyed mentioned that their confidence within the area’s property market was excessive or very excessive, while 86% agreed that the Thames Valley market is extra sturdy and resilient than the UK market as complete.
57% of builders singled out delays within the planning system as their present main concern, with 21% citing rising rates of interest and 14% the availability of land.
Regardless of these challenges, 55% foresee having a comparable variety of websites below improvement this 12 months versus 2022 and two-thirds imagine that they may purchase new websites on the identical degree or greater as final 12 months. Additional demonstrating their confidence within the area, 80% anticipate the demand for brand new houses to stay akin to or larger than the earlier 12 months.
Nevertheless, three quarters of housebuilders anticipate the variety of new construct houses coming onto the market to fall 12 months on 12 months, reflecting a common fall in properties on the market within the area. 64% of housebuilders anticipate that it will see an annual enhance in property costs, with solely 7% forecasting a drop.
John Dingle, a companion in Blandy & Blandy’s award-winning Industrial Property staff, mentioned, “It is rather encouraging to see from our housebuilder survey that there’s continued optimism and expectations of buoyancy within the Thames Valley market, regardless of the broader uncertainties.
“While acquainted and a few new challenges are in play, the regional urge for food for brand new improvement clearly stays robust, and certainly the staff stays busy performing for each landowner and developer purchasers.”
Blandy & Blandy offers an end-to-end service for landowners and builders of all sizes, having suggested on developments ranging in dimension from below ten properties to greater than 2,000 houses, with related infrastructure and facilities.
The agency is really useful within the UK’s main guides to regulation companies, Chambers UK and The Authorized 500. Blandy & Blandy has been recognised by Planning journal as one of many prime 15 Planning Legislation companies within the nation and has twice been shortlisted for ‘Property Legislation agency of the 12 months’ on the Thames Valley Property Awards, successful in 2017.