Fear not – Brexit ISN’T effecting the property market in Wales says Tim Grey of Llanmoor Homes
Last month’s referendum vote in favour of Brexit may have many companies worried about the economy and what the future will bring, but Welsh homebuilder Llanmoor Homes is delighted to report that sales are as strong as they’ve ever been.
“We did experience a slowdown in reservations and visitor figures ahead of the vote” said Llanmoor Homes Sales Director, Tim Grey “but they’ve already recovered. We’re getting some excellent forward enquiries for most of our developments and our new releases are selling very quickly.
“So far the impact of the Brexit vote on our sales seems to have been very minimal and what’s becoming very clear is that there are still plenty of potential buyers out there who are looking for new homes.”
There are several factors that could be helping to maintain the demand for new homes in Wales.
Tim said: “Fundamentally there is still a huge shortage of new housing in Wales and this means that the demand for new homes will remain. In addition, getting a mortgage is arguably easier now than it has been for several years thanks to low mortgage rates, low interest rates and low levels of unemployment.
“The Help to Buy Wales scheme will also continue to play a big role in sales. At Llanmoor we have sold over 150 properties through the scheme since its inception at a value of over £25million, and of those 150, 35 were sold after February 2016. Over 70% of the sales were to first time buyers with the average sales price at just over £190,000.”
In order to meet the demand for new homes, Llanmoor Homes increased their production by around 30% during the past financial year and have no plans to slow down.
Tim continued: “Subject to planning and to the market remaining steady, we will continue to further increase our production of new homes on both the open market and through affordable housing. We feel this is incredibly important in order to continue to meet the demand for new housing and we currently have plans for further large developments in Rhondda Cyon Taff, Caerphilly and Swansea.
“It’s important not to listen to media scaremongering about the housing market, and instead to look at the facts. Housebuilders in Wales, including ourselves, are doing incredibly well following the referendum vote and the levels of activity and enquiries we’re seeing suggest that this success is set to continue.”
Llanmoor Homes is one of the only remaining privately-owned housebuilders operating in South Wales. Based in Llantrisant, the company is run by brothers Tim, Simon and Matthew Grey and is celebrating its 50th year of trading this year. Llanmoor has won several awards already in 2016, including the LABC Quality Awards and NHBC Pride in the Job Quality Award for two of their Site Managers.