Sales surge for Miller Homes

Miller Homes has confirmed a 58% increase in national weekly sales rates since September 08, with January sales up 45% on the same period last year - despite the unusually cold weather which could discourage would-be househunters from seeking their next home.

According to the company, both sets of figures offer positive signs that the British housing market is turning a corner, following a difficult 2008 for the sector.

Miller Homes’ National Sales and Marketing Director, Sue Warwick, said: “Our industry is different to the ‘second hand’ homes market. Last year, we introduced some very significant price reductions which many private sellers have not been willing to withstand.

“When we added in deals to help buyers get the funding they need, we noticed a marked increase in sales and this hasn’t been a short term phenomenon – rather a trend that has now lasted well over a quarter and, touch wood, shows no signs of changing.”

Miller Homes is not alone in reporting increased activity in the housing market. Earlier this month (February), The Halifax building society reported that January house prices were up 1.9% on December’s figures. This echoes the views of many estate agents who have recorded more would-be house hunters registering with them – and the Bank of England which recently stated that there has been an increase in the number of new mortgages approved for homebuyers.

Website such as smartnewhomes.co.uk have also recorded increases in activity, namely after interest rates cuts. Plus, the likes of James Caan, Phil Spencer and more recently GMTV’s Mark Heyes have been openly telling people that now is the time to buy – all helping to restore confidence in Britain’s beleaguered property market.

Sue added: “Getting funding remains an issue for some buyers, though not all. Many people have been pleasantly surprised to discover that they can get the mortgages they were after. For those that have not been so lucky, we created our own scheme – MiWay. Under this deal, we effectively offer buyers the chance to pay 75% now and 25% later with help in the form of a long term loan from Miller Homes.” (See website millerhomes.co.uk/miway for details).

“This scheme has been incredibly popular, more so than we initially projected and it has shown us, and the country, that confidence isn’t the biggest issue for most house hunters – it comes down to affordability and when we deliver that, people will buy, plain and simple.

“Basically, British people aren’t stupid and they know that property is still a good asset and the recent downturn is just a glitch in an otherwise solid and secure investment. We can say with absolute confidence that buying new is more affordable now than at any other time in recent years - and buyers are really beginning to see that. Add the recent interest rates cuts to the package, and people are finding themselves able to buy a home that had been out of their price bracket just 18 months ago and if that doesn’t make them feel confident – what will?”

According to Miller Homes, other companies can both learn and take heart from their experiences. Sue concluded: “Whilst other businesses are beginning to feel the pinch of the recession, we are seeing light at the end of the tunnel. But that is not untypical of our industry. In previous downturns, we have been hit harder and faster than other sectors, but we have been the first to come out the other side. The same is going to be true this time.

“We now know that with the right business model, sales tools and staff, this is a storm that can be weathered. We are certainly beginning to see calmer waters ahead – and I hope that other businesses will see hope on the horizon soon too.”

Miller Homes is currently building homes in Birmingham, Solihull, Wolverhampton, Kidderminster, Cannock, Stoke, Stone, Burton, Rugby, Daventry, Tewkesbury and Quedgley. For further information on the range of properties and offers available, visit millerhomes.co.uk.