The Home Builders Federations’ latest Housing Pipeline Report showed that in the last quarter of 2013 planning was granted for the highest number of new homes since the first quarter of 2008; 52,534 properties*.
The report showed a total of 171,471 planning permissions were granted in 2013, up 23%, with Help to Buy playing a part in a 29% year-on-year increase in private housing starts, contributing 2,500 reservations a month* and driving an increase in buyer demand as well as confidence for builders to invest in building new homes.
At Mackenzie Smith we have noticed a marked increase in first time buyers accessing property through a Help to Buy mortgage which has aided in the sale of newly built starter and apartments, particularly at developments such as Queensgate in Farnborough by Inland Homes. The scheme also played a part on new homes developments featuring family homes such as Linsford Grange in Mytchett by Nicholas King, Carpenters Corner in Aldershot by Sewrey Homes, Burleigh Place in Mytchett by Inland Homes and Fox Villas in Hawley by Fleet Homes, allowing second steppers to achieve their aspirations of owning a high specification newly built family home.
The report is an indicator of future levels of homebuilding, a large portion of what has been consented will be built in the next few years, with buyer demand hungry for the developers to complete the homes and get them on the market.
Despite the increase in the production of new homes there is still a long way to go to meet demand which is set to grow; development finance, land supply and material shortages are all challenges which could hamper developers’ ambitions.
Mackenzie Smith’s experienced Land Department are able to offer advice on potential land opportunities call 01252 762007 or email email@example.com if you wish to outline your requirements or discuss buying or selling land. Click here for more information on our Land Services.
Facts and Figures from: http://propertydrum.briefyourmarket.com/Newsletters/JUNGLEdrum—the-newsbeat-from-PROPERTYdrum96/Planning-consents-for-new-homes-shoot-up-.aspx