Research by Blandy & Blandy suggests high confidence in the Thames Valley property market.
The law firm and Thames Tap partner surveyed housebuilders and found 72 per cent said their confidence in the region’s property market was high or very high, while 86 said the Thames Valley market is more robust and resilient than the UK market as a whole.
The survey showed 57 per cent of developers singled out delays in the planning system as their current, primary concern, with 21 per cent citing rising interest rates and 14 per cent the supply of land.
Despite the challenges, 55 per cent believe they will have a similar number of sites under development this year compared to last and two-thirds believe they will acquire new sites at the same level or higher as last year.
Eighty per cent expect the demand for new homes to remain comparable to or greater than the previous 12 months. However, three quarters of housebuilders expect the number of new build homes coming onto the market to fall year-on-year.
Blandys said that reflects a general fall in properties for sale in the region. A total 64 per cent of the housebuilders anticipate an annual increase in property prices, with only seven per cent forecasting a drop.
John Dingle, partner in the commercial property team, said: “It is very encouraging to see from our housebuilder survey that there is continued optimism and expectations of buoyancy in the Thames Valley market, despite the wider uncertainties.
“Whilst familiar and new challenges are in play, the regional appetite for new development clearly remains strong and, indeed, the team remains busy acting for both landowner and developer clients.”
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