Winter is coming but what does that mean for the new homes market?
PUBLISHED: 09:21 09 November 2018 | UPDATED: 10:40 09 November 2018
Tom Amis of Savills' Norwich-based new homes team reflects on the market.
It seems like only five minutes ago that we were in T-shirts and shorts but there’s no escaping the fact that winter is just around the corner.
What does the turn of the seasons mean for new build sales? By and large, housebuilders and developers bring their schemes to market as soon as they are ready rather than waiting for a particular seasonal window. For example, we launched Kell’s Meadow, a collection of 13 three and four bedroom family homes by developer FW Properties currently under construction in the rural village of Geldeston, near Beccles.
Designed to complement the landscape, the houses will offer light, flexible living space and quality fixtures and fittings with prices starting at £225,000.
As new stock becomes available throughout the year, demand tends to be pretty consistent. So, far from going into hibernation for the winter, the market remains active. Having said that, it’s true that this activity does quieten down especially in the run up to Christmas when preparations take priority. This means that if you are thinking of buying a new home then the coming months can be a very good time to look. Less competition from other buyers means you may be able to take a little more time to consider your options and, you never know, some developers who are approaching the end of their financial year may be open to negotiation. Your offer may not be accepted, but it’s worth asking the question.
New build has a broad appeal for house hunters. Buyers know they can move into a home that’s ready and waiting for them to personalise it. Low maintenance and energy efficiency are major draws; contemporary kitchens and bathrooms add to the attraction; and there’s the peace of mind that comes with a guarantee too. The earlier you buy in the life of a new development, the more choice you have in terms of the position of the plot and house type, and because the transaction is with a developer rather than a private individual, the property will always be chain free.
For more information on the new homes market in Norfolk contact Tom Amis and the team at Savills Norwich, 01603 229229, firstname.lastname@example.org, savills.co.uk
Savills New Homes has sponsored this column.