With demand for affordable housing being constrained by mortgage availability, we are now seeing a shift by housebuilders towards the development of prime properties.
The general feeling being that people who already have a home enjoy equity, and they will inevitably want to move up the housing ladder, as their family grows, into roomier and better quality accommodation. This trend is very much being compounded by the drastic spending cuts, as well as by the ill timed overhauling of the planning system. So developers are future-proofing themselves by building bigger, more expensive houses in better areas, which are less prone to falling prices and potential buyers do not require high loan-to-value mortgages.
For Plastic Surgeon, this move to build higher quality homes will mean that, quite rightly, every product used to build them, along with the fixtures and fittings, will be high end of the market. And the purchasers will be expecting their new home to be flawless, which is where our finishers will come in to ensure that ‘perfect finish:’ putting right the inevitable snagging damage left by tradesmen.
Interestingly, some of the bigger housebuilders are also attempting to loosen the housing stalemate by offering shared equity schemes and coupons for parents supporting their children as first-time buyers. Plus it is hoped by changing the planning system, councils and local authorities will have more power, and financial incentives, to build; although many are worried that it could lead to wildly different planning systems in each region that will make it prohibitively complex to get permission. Only time will tell, and an expert from one major construction firm said: “I think 2011 is another year with a considerable amount of uncertainty.”