At Gusto Homes we have been building new homes in Lincolnshire and Nottinghamshire for the past 30 years. We experienced the massive hike in interest rates in the early 1990s and the financial crisis in 2007.
What we have seen over the past 10 years is a steady growth in values across the county rather than a boom. This is very different to the way the market has performed in the London and the South East where the house price inflation has run into double figures during that period pushing property prices out of reach of the average purchaser.
It is therefore not surprising that there is a correction in prices in the South East which maybe partly due to the uncertainty of Brexit but needed to happen in order to keep prices in the reach of buyers.
The Lincolnshire housing market has however seen a 0.5% increase over the past 12 months to July with the average price at £235,656 (Zoopla).
The Lincolnshire economy is in very good shape with higher value jobs being created and the quality of life the county offers does make it attractive for those looking to relocate from the more expensive and densely populated South East.
Brexit uncertainty has without doubt delayed people from putting their homes on the market resulting in a slower housing market, especially for larger properties, however the overall affordability in comparison to the South East will in my view result in the Lincolnshire market remaining stable through this period of political uncertainty.
At Gusto Homes we have added retirement living to our range of developments and currently have only one apartment remaining in our Home grange retirement living development adjacent to Boultham Park, alongside five retirement bungalows on Home Green. We are also just starting the construction of 60 retirement living properties in the village of Collingham which will see the first homes completed in 2020.
The final phase of our award-winning Woodlands edge development adjacent to the Lincolnshire showground is now available for sale and gives purchasers the opportunity to purchase an ultra-high specification home of the future. Our show home is open every Saturday from 10:00 – 2:00pm
Over the past few years Lincoln has seen a range of high quality more individual developments coming to the market such as the Coliseum, One the Brayford, LN6 and others.
In my view it is important that local companies continue to play a major role in local development adding the variety and quality needed to compliment the more mainstream housing offered by the national PLC developers.
Steff Wright is the CEO at Gusto Group.