Member Article

Now is the time to buy: Local housebuilder sees growth in market confidence amidst easing of lockdown regulations

Local housebuilders, Barratt Developments Yorkshire East and Yorkshire West, are urging potential home buyers to act fast as figures suggest that confidence in home buying is increasing as the UK begins to ease COVID-19 restrictions.

From the week the Government announced lockdown regulations (23rd March 2020) compared to recent figures from mid-June, Barratt Homes Yorkshire East has witnessed over a 218% increase in website visits from prospective buyers and Barratt Homes Yorkshire West has seen a staggering increase of over 400% reflecting growing confidence and interest in the housing market.

These figures align with recent research from Rightmove, the UK’s largest property website, which revealed that 94% of buyers are still determined to stay on track with their plans to move home, despite the current circumstances.

As confidence rebuilds, buyers’ preferences appear to be changing as a result of the enforced lockdown. Data from Rightmove demonstrates that almost half of renters (49%) and more than one third of homeowners (39%) state that the lockdown has impacted what they’re looking for in their next home. A large garden, a better workspace and a fast internet connection are amongst the top new requirements, with commute times and transport links becoming less important.

In order to meet this increased demand, personalised one to one appointments can now be booked, as social distancing measures are in place throughout all Sales Offices, Show Homes and construction sites across the region. The housebuilder has also recently launched its virtual tour system, which allows prospective buyers to view their dream home directly from the sofa, as they are taken on a tour of their desired house-type.

Daniel Smith, Managing Director at Barratt Developments Yorkshire East, commented: “It’s great to see confidence in house-buying on the up again. Our team has worked incredibly hard to ensure that customers are still able to learn about our developments and tour Show Homes, whether that’s in person, with social distancing measures in place, or virtually through our website.”

Ian Ruthven, Managing Director of Barratt Developments Yorkshire West, said: “As we’ve seen such an increase in interest, we’re encouraging all potential buyers to act fast and find out more about developments in their area.”

Rightmove Housing Market Analyst Miles Shipside commented: “Traffic on Rightmove has hit its highest ever level with many starting out on a new journey towards their next home and a change in lifestyle, which could come with a very different wish-list to the one they had a few months ago. During lockdown people have been re-evaluating what their must-haves are, and both buyers and renters are craving a home with its own outside space rather than a flat. It will be fascinating to see how the trends unfold over the course of the rest of the year.”

This was posted in Bdaily's Members' News section by Richard Savage .