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Home buyers in Southam undeterred by snap election call

The surprise decision to call a snap General Election hasn’t deterred new homes purchasers in Southam according to Bloor Homes.


05/05/2017 - General

The announcement by Prime Minister Theresa May prompted fears of a market slowdown, with commentators predicting that buyers would wait until after the vote on June 8th before making a decision about whether to purchase a new home.

However, the privately-owned housebuilder says sales rates and visitor numbers at its Southam Grange development have remained steady since the decision – just as they did following the Brexit vote last June.

This follows a snap poll taken by online estate agent eMoov, in which almost 60 per cent of home buyers and sellers said that the election would not affect their plans to purchase a property.

Vanessa Macnee, Regional Sales Director at Bloor Homes South Midlands, said: “The decision to call a snap election has inevitably created some political uncertainty, but there is no sign of this filtering down to the new homes market.

“Predictions of a market slowdown following the Brexit vote last summer proved unfounded, and the sustained level of sales activity that we have seen since last week’s announcement indicates that these latest fears are similarly misplaced.

“The demand for homes continues to outstrip supply, and this will remain the case regardless of the result of the election. Both main parties have spoken of the need to address the country’s housing shortage, so this is sure to remain at the top of the Government’s agenda, whichever party is in power come June 8th.

“Figures published by the Home Builders Federation (HBF) show that the number of new homes securing planning approval reached its highest level in over a decade during the last quarter of 2016, which underlines the growing confidence across the industry for the long-term prospects of the UK’s housing market. 

“At Bloor Homes, we are committed to significantly increasing the number of new homes we deliver across the region and are growing our workforce and expanding our successful apprenticeship schemes in order to achieve this.

“In the more immediate term, the conditions for prospective house buyers remain extremely favourable, thanks largely to the continuation of the Help to Buy scheme, and the low interest rates currently available on mortgages. 

“And as our experience shows, considerations such as these will always outweigh short-term political uncertainty when people come to decide whether or not to buy a home.”
Bloor Homes is currently building new homes at developments across the South Midlands region including Southam Grange which offers a range of two, three and four bedroom homes.

Currently available is a range of three bedroom designs starting from £260,000 (£208,000 with Help to Buy), with four bedroom designs from £440,000 (£352,000 with Help to Buy). 

The development is located on Banbury Road in Southam and is open daily from 10am to 5pm. For further details please call 01926 676410 or visit https://bloorhomes.com/developments/south-midlands/southam-grange