Are the days of fixed prices on New Homes over?Last week we launched a new development at Walkley, Lark’s View, and interest quickly flooded in. These are incredibly well-built properties with well thought-out layouts, great interiors, lovely gardens and exceptional views so we weren’t surprised that the phone suddenly rang off the hook. After booking a staggering 86 viewings in total, the offers started to come in thick and fast and on Monday morning we logged multiple offers on every plot in less than three hours!
There’s no doubt that the properties themselves and the marketing by DED of these properties are both exceptional, yet the market really is booming and a perfect storm of demand has meant that these houses are really hitting the mark. We have found that the low stock levels, the number of people looking to downsize or upsize, divorces being up, people relocating to Sheffield, the stamp duty holiday and people who sold and went into rented hoping the market would drop, have meant that an unprecedented number of people are in the market to buy.Once upon a time, a fixed price would be seen as always the norm on new build houses, but in this current market, developers fixing prices for sales really are missing a trick at hitting the true market values, which may be much higher than their original expectations. The market drives the price, so don’t shoot the agent or the developer for pushing prices upwards, the demand is doing that!We know that the price of building materials is at an all-time high, squeezing the margins more than ever before so the developer isn’t just winning, so is the economy generally hopefully contributing to a recovery out of these strange and difficult times.If you have a new development that you are looking to sell, now may be the time to rethink your sales strategies to maximise your result. Feel free to speak to us about how we can help, we certainly know that our clients at Walkley are happy they did!