Buyer’s demand “Great expectations”

- Thu 12 Oct 2017

Our Land and New Homes Department which covers Somerset, Devon and Cornwall selling and marketing in over thirty locations within the South West are in a unique position to observe emerging trends with buyer demand for new homes.

The South West is unique in that it has the highest influx of out of area buyers than any other region within the UK, combined with an active indigenous market place.

One of the main emerging trends suggests that buyers are gravitating towards New Home sites that offer a diversity of architectural features, many differing house types and higher than normal specification. It is also apparent that buyers will pay an additional premium for this quality and diversity over and above a development where there has been very little creative input.

An example of this is reflected at Tidal Reach in Brixham where Grove Homes are producing costal dwellings within an intimate setting and a better than average internal specification or indeed in Cornwall at Nansledan where house designs have been inspired by HRH the Prince in neo-classical style. Here Morrish builders have interpreted the imaginative external architecture with higher than average internal specification finish.

This phenomena is not restricted just to smaller sites as Nansledan is a major urban extension to Newquay which will eventually accommodate over 1000 homes.

Another plus point with buyers is the ability, at the right site stage of construction, to have choices over finishes and internal facilities and the more a developer can provide in the way of bespoke accommodation the more likely the buyer is to engage with a purchase.

House type and size of accommodation also plays an important part especially at the planning stage of any development. We offer a service which advises developers, the peaks and troughs of local buyer demand in any particular market place helping the developer to match up the product with the likely demand encountered. A perfect example that you could apply to all the towns in the South West are sites where it is equitable to develop bungalows either as part of a mixed housing site or exclusively made up of bungalow and chalet style homes.

The South West is one of the fastest aging populations in terms of inward migration and for over forty years bungalows, as a product, have not been built in any volume. This reflection of the unusually high demand for bungalows is reflected at a small development we have been marketing on behalf of Sunnybank Homes at Chapel Court, Liverton, Bovey Tracey. A small select cul-de-sac of five detached three and four bedroom bungalows have sold in record time with the majority of the sales taking place at the launch day where buyers came as far away as Norfolk to reserve on the day.

Chris Baxter, New Homes Director, recommends that if there is room for some bungalow development “developers should seriously consider this as there will be a pent-up demand”.

All in all the new homes market is buoyant in the South West with very little exception to that rule. However some developments continue to out shine others, when a simple rule is applied: build what the buyer wants.

What to do next…..

You can find out more about all of our new homes developments here

 

Why not call our team of specialists on 01395 223336.

 

If you would like to find out what your property is worth, you can either try our new online valuation calculator or arrange a precise valuation

Chris Baxter - Bradleys Land & New Homes Director

Chris Baxter
Bradleys Land & New Homes Director

07852 979792
01395 223336
chrisbaxter@beagroup.co.uk

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