“Following his appearance on BBC2’s Business Boomers programme last month, Millwood Designer Homes’ Managing Director John Elliott, explains why he thinks the property market is hot right now.
“There’s no denying that the market has picked up and that the property industry as a whole is bouncing back from the recession.
“We are all aware that we have a shortage of homes in the UK and that we need to build more. Housebuilders are really trying to tackle that shortage, and we are constructing homes at the fastest rate for a decade.
“Housebuilding gives a real boost to the economy, by providing a surge of work for tens of thousands of people across the country. It refreshes parts of the economy that other industries can’t reach. It means more jobs, stimulating a lot of other demands which helps get the economy moving.
“Last year, 130,000 new houses were built in the UK but we are a long way short of the 250,000 needed to meet demand, so we need to continue to keep Britain moving forward.
“Property prices are at a new all-time high. According to the Nationwide’s House Price Index, prices rose 11.8% year-on-year across the UK in June, which is the biggest jump since January 2005, standing at an average of £188,903. We are seeing a real urgency to move. I think people are realising that if they do not move now, house prices will continue to rise.
“So, what about new homes. Well, as the Business Boomers programme suggested, new homes are hot property. However, it is a big responsibility for housebuilders. It is the most life changing and most expensive product you will ever buy. We are not just building houses, we are selling a dream, and building the homes of the future.
“That’s why in a survey that the NHBC carried out earlier this year, design was the top reason homeowners gave for loving their new-build homes, followed by its location – well-located sites will always see a strong level of demand –size and space.
“At Millwood, we build houses that are individual, and not only look good but are designed for practical living. They must appeal to buyers. You can’t easily sell rows and rows of identical houses. People want more and you need to have something that’s going to appeal.
“That’s why developments need to be integrated and well thought out, so that each home enhances the other and appeals to all markets.
“The housebuilding industry often tries to sell its customers a perfect vision of the past and this is where Millwood is very strong. We focus on building homes that will stand the test of time and still look beautiful in years to come – ageing gracefully you could say.
“The seventh reason on the NHBC survey was energy efficiency. This isn’t surprising, as research found that families who live in new-build homes built to 2013 standards could save more than £1,400 a year on their energy bills compared to their neighbours in older homes.
“There are other benefits to buying new. One is that you do not need to plan in the cost for upgrades any time soon, and with Millwood, for instance, if you get in early, the house is a blank canvas for you to do what you want, which is really appealing.
“All in all, the property market is ‘on the move’, and new homes are hot. If you have been putting off moving because you were worried about the future of the property market, now is the time to relook at your situation. There has never been a better time to buy – don’t stay out in the cold.”