Lockley Homes reporting record sales as Midlands new homes market shows 'no signs of slowing'
A Midlands developer has cautioned against listening to “doom merchants” as the company reports record sales across all its sites.
Lockley Homes, which primarily develops in Warwickshire, Worcestershire and the Cotswolds, says it has such a strong following that many of its plots sell “off plan” before they are completed.
Managing director Karl Lockley said that scaremongering in the national press had done nothing to dent their clients’ confidence.
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"Those who seek their news from what might be classed as ‘traditional' media channels’ may be forgiven for thinking that we are all doomed.
“If it isn’t talk of imminent economic collapse then 'climate catastrophe' is the other favourite topic and I couldn’t believe my ears the other day when I heard that this already alarmist and controversial description had been ‘upscaled’ to that of ‘global boiling’.
"It is clearly unhelpful talk and describing climate change as ‘global boiling’ probably has the complete opposite effect on most people.
“Our purchasers are not showing any signs of being put off as they go about their lives.”
He added that despite the challenging backdrop of the last few years, Brexit, an election, Covid and now the economy being more challenging than it was, Lockley Homes has adapted to its customers’ needs.
"During and immediately following Covid, we certainly noticed a greater level of enquiries for larger houses on larger plots, which has not abated.
“While we hope there is not another 'repeat Covid need' for them, it is more a reflection that working from home is more commonplace now and two people both requiring an office is a fairly regular occurrence. That, combined with escaping from larger cities and enjoying gardens and larger plots, has certainly remained a strong draw.
"While the rise in interest rates will certainly have a negative impact on some, those with mortgages in particular, our clientele are often in the fortunate position of being mortgage-free or downsizing and releasing equity.
“And the flip side of the interest rate coin is that those with savings are now receiving a reasonable return on those savings which is a side of the story rarely mentioned.”
Lockley is currently on site in Alstone, Gloucestershire - a fairly sleepy, edge of Cotswold village not far from Winchcombe.
He said: “For Lockley, it ticks all of our development box requirements.
"There are only seven houses on the development which adds to the exclusivity of course, and the views are wonderful. Five of the seven have sold and the first residents will be moving in during September.”
Prices are from £725,000.
A very different proposition, however, is Lockley’s development in High Street, Henley-in-Arden, where a development of one townhouse and five apartments is well on the way to completion.
“Henley is such a unique place, and its values would suggest it is probably the most sought-after true ‘town living’ venue that we have in this part of the world.”
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“Both the penthouse and the townhouse at our Deer’s Leap project were sold off plan and our agent has a queue of potential purchasers waiting to view.
“Experience has taught me not to guess who will be our ultimate buyers, but I’d be surprised if Deer’s Leap doesn’t have its share of downsizers for the 2 bedroom apartments which are perfect for those looking for ‘lock up and leave’ properties.”
In addition to Alstone and Henley-in-Arden, Lockley Homes will shortly be starting developments at Inkberrow, Fernhill Heath and Bretforton across Worcestershire.
