Saving money on energy and getting more space are driving brisk sales of new-build homes in Yorkshire

Demand for energy efficient homes and more space is driving strong sales of new-build properties, according to Jones Homes Yorkshire.

The homebuilder, which has developments in Yorkshire, Nottinghamshire and Derbyshire, is experiencing a high level of demand from buyers across the region as house-hunters seek more rural locations while aiming to keep their fuel bills down.

Dinah Stephenson, Area Sales Manager at Jones Homes Yorkshire, said: “Buyers have always been interested in energy efficiency, but it has now become a much bigger priority than ever.”

“Sustainability and the environment are important to people and with the price of gas and electricity soaring, customers are highly focused on not using excessive amounts of fuel.

“They know that a newly constructed property, with all the latest energy saving features and modern insulation techniques will be cosy and yet won’t cost them a fortune to run. That is one reason why Jones Homes properties are drawing a lot of attention from house-hunters.”

Dinah also highlighted the growing trend of people wanting more space at home, which is prompting sales.

“Since the pandemic, more people are working from home and that means they need a dedicated space to do so.

“Perching at the dining room table is fine as a stopgap, but as lifestyles change people want a permanent and workable solution. So, homes with extra bedrooms, or a study are catching people’s eye.

“We have also seen a greater desire for a good work-life balance that includes time with family and friends, and the chance to enjoy the outdoors and the local community. Most of our developments are in villages and market towns which are increasingly attracting buyers looking to leave city life behind in favour of more space in a more rural location.”

Part exchange specialist Andrew Demain agrees that the market has developed in several ways that are driving demand.

He said: “Since Covid there has been a change in requirements with clients looking at less crowded locations with market towns and semi-rural locations driving demand higher than previously. Also house design demand is changing with more emphasis on home working both with technology in the home, which builders are embracing, and a study or extra bedrooms.”

Andrew is from Property Perspective, which runs Jones Homes Yorkshire’s Agency Assist scheme helping those buying a Jones Homes property to sell their current home. He has found that the market has been brisk among people who are moving on to a new home from one they already own.

“Our valuations have increased over the last two months as have our instructions, and now our sales are also following suit,” he said.

“With people moving up the market this is a great time to move as the gap between a client’s existing home and the new home they wish to buy is not opening at the rate it was.”

According to MAB New Homes Mortgages, Director, Helen Pierson, many of these buyers will already have mortgage deals on their existing property which can help them when purchasing their next home.

She said: “The vast majority of existing mortgage borrowers have fixed rate mortgages and even if these are for a relatively short period it will mean a delayed response to interest rate increases for most people.

“Most fixed rate mortgages are portable so can move with you when you move house and if you need to borrow more you can simply “top up” to the amount of mortgage that you need on a current mortgage product.”

Helen, from Mortgage Advice Bureau New Homes Mortgages, which works with Jones Homes Yorkshire, says that there are also options for first-time buyers to purchase their first home – such as joint mortgages with partners, inter-generational transfer of wealth, and affordable housing schemes.

She said that purchasing a first home makes good financial sense for many people, adding: “Rents are definitely increasing so it’s not necessarily a more affordable option than buying your own home.”