Are you a property developer currently mulling over the location of your next project? New research reveals that Leeds is the best location to build homes, when looking at value, house price growth and demand. We’ve reported before on the best places outside of the south east to invest in the UK; this new research is helpful in guiding developers who may be looking to finance a development project outside of the capital.
Leeds offers best growth
Overall, new builds in Leeds are worth 41% more than existing homes in the city. In terms of property price growth, the value of new builds are increasing by 13% year-on-year. From an application perspective, Leeds was also a desirable location, as Leeds City Council approves almost all major applications for property development projects.
The research also highlighted Birmingham, Cornwall, County Durham and Wiltshire as viable hotspots.
It’s interesting to note, however, that another recent survey has revealed that Brits are generally not impressed by new-build properties. As we reported, 81% of UK adults surveyed said they are ‘unenthused by the prospect of living in new-build housing developments’, whilst 60% felt ‘there are too many poorly-built, unattractive new builds popping up across the country’.
However, as has been well reported in the press, there is a significant lack of choice—so property developers should certainly not be deterred from building new homes. Whilst Brits may not be enthralled by the idea of living in a new build, they are still very much needed. In cheaper areas of the country, a quality high-spec finish can be achieved without breaking the bank as developers will save considerable amounts on site purchases.
Finance for building new homes
If you are looking to secure finance for a home building project, we have the expertise to assist with this. Whether you need finance to purchase a site, to fund the development itself, or to meet cash flow issues along the way, we can help.