A few weeks of uncertainty within the housing industry was felt immediately after the referendum outcome, but optimism is prevailing with the housing market continuing to do well, demand remaining high, and estate agents commenting that activity is similar if not better than the same time last year.
The housing portal, Rightmove, recently reported that buyer interest was in line with previous years, and enquiry levels are consistent with the same period in 2014. News reports also told us that housebuilding shares have risen, building confidence and putting minds at ease. This is reflected in the recent construction buyers report that recorded a recovery of 49.2 in August compared to 45.9 in July.
Similarly, the residential market survey by the Royal Institution of Chartered Surveyors (RICS) released on 8 September reported that house prices are regaining momentum, with sales holding steady after four successive monthly falls. For the first time since April it also predicted both the short and long term prices would rise.
This is excellent news for housebuilders like us. The constant imbalance between the quantity of properties available versus the large number of buyers means that the housebuilding industry will likely remain consistently buoyant, enduring a little fluctuation here and there when it comes to big political and economic disturbances, but on the whole remaining consistent.
At Wedgewood, we are a perfect example of housing success after the referendum - we received a great deal of interest in our Longview development in Boughton-under-Blean, and recently sold the last two remaining homes.
It goes to show that whatever the market climate, enquiries will continue and there will always be a need for new homes. If they are good quality homes, built in great locations and at the right price, there is no doubt they will sell.
We continue to remain optimistic about the market in general; continued government support, positive mortgage availability and demand for homes mean that the future is bright, and housebuilders can get on with supplying homes to meet the populations needs.