Jason Tebb, Group Chief Operating Officer of Go Develop comments on the Halifax House Price Index (February 2019 data):
“In a turnaround from last months’ data, the report from the Halifax this morning showing annual, quarterly and monthly increases on average values is a positive story amid a sea of ongoing Brexit turmoil, and highlights the enduring appeal of bricks and mortar in the UK as an asset class. We’ve seen a busy start to the year across the developments that we currently have for sale, and this morning’s data does support what we’ve been saying for some time, which is that a lot of buyers had put off their move last year due to the ongoing political uncertainty, and now this pent-up demand has given way to a busier-than-anticipated spring.
We would suggest that this is probably the start of a busy few months, as regardless of what’s decided – or not as the case may be – next week about our withdrawal from the EU, those who want to move home can only put their lives on hold for so long, which means that the UK’s shortage of properties will be probably be felt quite keenly this year. For this reason, we’re currently researching for new sites in strategic locations across the country so that we are able to assist more SME developers meet their goals in 2019, and are committed to green lighting projects in very short timescales so that ground can be broken on new sites in the coming months wherever possible.”