Midlands property prices point to true market value
Taylor Wimpey North Midlands’ Daniel McGowan considers how new build prices can give an accurate value of homes on the market – and how the housebuilder’s competitive pricing policy has ensured the success of its developments of new homes in Staffordshire, Shropshire, Warwickshire, Derbyshire, Birmingham and the Black Country in 2010.
How much is a home really worth? With conflicting reports about the current market value of property in the UK, that can be a tough question to answer.
While Land Registry House Price Index figures show property prices have gone up over the past year, the monthly Halifax House Price Index is painting a mixed picture, reporting that prices in October 2010 were 1.2% up on the same time last year, 1.2% down on the previous quarter, but 1.8% up on the previous month!
So, with such mixed messages, how can a house-hunter – or seller – really know the correct price for a property?
A quick look at the way new housebuilders such as Taylor Wimpey North Midlands go about their successful businesses should provide more than a few clues.
Whereas a private homeowner can normally afford to sit back in their armchair and wait for the property market to rise in order to get the very best possible price, the simple fact for developers is that they need to price their homes realistically to meet annual selling targets.
Having vast swathes of land full of empty homes is something that Taylor Wimpey easily avoids, thanks to its tried and trusted policy of pricing its property at a level which homebuyers in search of Midlands property for sale are happy to pay.
The fact that hundreds of purchasers have bought a new Taylor Wimpey home during 2010 in the North Midlands region, which covers developments of property for sale in Staffordshire, Shropshire, Warwickshire, Derbyshire, Birmingham and the Black Country, is a ringing endorsement of the way the housebuilder values its property.
Quite simply, this high level of sales during an economic downturn suggests the housebuilder is getting its prices right.
The successful placement of its new homes at the correct market value means that none of the 15 new homes developments across the North Midlands region has gone any longer than three weeks without selling at least one property.
Indeed, business is so good, thanks to Taylor Wimpey’s ability to produce quality new-build homes and offer them at exceptional-value prices, that it will have soon opened six new homes developments in the North Midlands during the final quarter of 2010.
So while estate agents may bemoan a lack of trade, the developer is experiencing the complete opposite when it comes to demand for its high-quality houses and apartments – because Taylor Wimpey properties are always sold at the true market value.
