The advice firm said it had a “bumper start to the year”, with queries rising from January to February. In the first week of 2023, the firm said new build lead numbers were 60 per cent up compared to its weekly average, and this continued throughout the first two months of the year.
Just Mortgages said the removal of the Help to Buy scheme resulted in an uplift in demand for shared ownership, particularly in London and surrounding areas.
Continued interest in new build
Paul Wilson (pictured), head of new build at Just Mortgages, said: “Despite the challenges in the market, it is hugely encouraging to see increasing demand for new build. There’s no question homeownership is still a clear aspiration for many, and we must do all we can to nurture and support this. It’s been fantastic to see a real proactive approach among our developer partners, who remain keen to support deals and create opportunities to get properties sold.
“A big driver has also been shared ownership, which gathers more momentum with every week. While a slightly different proposition, it is certainly filling the gap left from Help to Buy and is supporting a growing number of people in making that step onto the property ladder. Our team of advisers continue to increase education around the scheme, while the number of properties, lenders and housing associations supporting it only grows too.”
Wilson added: “To meet this growing demand, we have big plans for the division to increase both our adviser headcount and our relationship management team, as well as expanding our partnerships with developers, housing associations and trade bodies across the country.”
John Doughty, chapter managing director at Just Mortgages, said: “The last year has been incredibly turbulent for the housing market, and the new-build sector has been no exception. Whether it’s rising interest rates and tougher affordability, or the growth of affordable schemes and the continued shift to a partnerships model, there is plenty to discuss.
“The tremendous activity we have seen at Just Mortgages so far this year demonstrates how important it is we bring together all the key players from across new build to map out the direction of travel for the sector and how we all can best support buyers.”
Just Mortgages will be holding its third New Build and Affordable Housing event on 25 April at St Mary’s Church in Marylebone, London. Confirmed speakers include Frances Haque, chief economist at Santander, David O’Leary, executive director at the Home Builders Federation (HBF), and Alex Rose, director of new homes at Zoopla.
