I’ve been asked by a number of clients, suppliers and consultants recently about the state of the market. There has been mixed news from various industries of late, Brexit and other events that have left many wondering what is happening in construction, writes Sahel Majali.
From what we see at the Mid Group, there still seems to be strong underlying demand for new homes, particularly in the mainstream markets. Traditional home buying areas, such as the home counties, do not appear to have had any impact whatsoever from recent events.
Furthermore, within London, there certainly seems to be strong demand for new, starter homes. The significant undersupply of stock has not gone away and the market is not delivering enough new homes.
All this means business as usual for the residential market.
New homes
Additionally to this, a number of local authorities are now starting to build homes for the first time in three decades. From the Mid Group’s experience on projects with Local Authorities, such as the London Borough of Lewisham, we are seeing growing demand for high quality, new affordable homes.
The growth of Local Authorities as a new client group is creating additional pressure on the delivery side of the market. Here, the use of off-site construction is one of delivering high quality new homes.
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