Miller Homes has reported a sharp increase in off-plan sales
during the second quarter of 2011 - with the East Midlands and
North West recording especially strong performances.
The news comes as the Nationwide reported a flat housing market
for June. In contrast, the National House Building Council (NHBC)
recorded a sharp increase in new homes completions for May - up 29
per cent since April.
In line with the NHBC findings, Miller Homes, the UK's largest
privately owned-housebuilder, said its off plan reservations were
at their highest level since 2008 - suggesting consumer confidence
is creeping back into the housing market, or at least the new homes
market.
The developer pointed to its Stretton Glen development in
Leicester as a prime example of its current off-plan sales success.
Here, there have been four reservations despite having no
showhome for prospective purchasers to view.
The developer has also had 53 reservations in the space of just
four months at Infusion, a refurbishment scheme in Moss Side where
it is marketing and selling homes for Manchester City Council as
part of a wider regeneration project. Again, these reservations
have been taken before the homes have been finished.
Chris Endsor, Operations Director for Miller Homes, said;
"Obviously, off-plan sales are something usually associated with a
property boom when competition is such that buyers can't wait for a
property to be built if they want to get the best plots.
"We are not suggesting that we are seeing a return to those days
- but this would seem to suggest that buyers have a greater degree
of confidence in the new homes market now than they have had for
some three years or more.
"It will be interesting to see whether this is an emerging trend
- or an unusual bubble. Naturally, we hope it is the former."