Housebuilders confidence high

MARKET confidence among housebuilders in the Thames Valley remains high, according to research recently carried out by a law firm.

Of those surveyed by Blandy & Blandy, 72% said their confidence in the region’s property market was high or very high, and 86% agreed the Thames Valley market is more robust and resilient than the UK market as whole.

More than half – 57% – of developers singled out delays in the planning system as their current primary concern, with 21% citing rising interest rates and 14% the supply of land.

Despite these challenges, 55% foresee having a comparable number of sites under development this year compared to last, and two-thirds believe that they will acquire new sites at the same level or higher as last year.

And demonstrating their confidence in the region, 80% expect the demand for new homes to remain comparable to or greater than the previous 12 months.

However, three-quarters of housebuilders expect the number of new build homes coming onto the market to fall year-on-year, reflecting a general fall in properties for sale in the region: 64% of housebuilders anticipate that this will see an annual increase in property prices, with only 7% forecasting a drop.

John Dingle, a partner in Blandy & Blandy’s award-winning Commercial Property team, said: “It is very encouraging to see from our housebuilder survey that there is continued optimism and expectations of buoyancy in the Thames Valley market, despite the wider uncertainties.

“While familiar and some new challenges are in play, the regional appetite for new development clearly remains strong, and indeed the team remains busy acting for both landowner and developer clients.” n For further information, log on to: www.blandy.co.uk