Bidwells comments on latest RICS report - lack of new homes holds back the property market

Bidwells Cambridge New Homes is witnessing one of its busiest trading periods over the last decade and beyond, fuelled by the 'Cambridge Factor' and other attributes to the Cambridge residential market. And there is no sign of activity levels decreasing....

BUT... while demand numbers and appetite is undoubtedly set to continue, the supply line is being seriously tested.  It says that at present on all of its current Cambridge new homes schemes, build programmes are sweating as they struggle to keep up with the sales momentum.  This is also having a knock-on effect on availability of building materials, which is placing huge pressure on the supply lines, and undoubtedly raw material prices will reflect the increase in demand.

Inevitably all of these facets will mean availability will decrease, which will place further pressure on values.  

David Bentley, Head of New Homes, comments:  "While we at Bidwells witness the above first hand, the under supply of housing stock is confirmed via the latest RICS report , although expectations within the report assume the traditional 'spring bounce' will replenish supply. Only time will tell.

"Bidwells is involved in a large number of the current Cambridge schemes, including the strategic site of Great Kneighton and those forthcoming schemes of Darwin Green and North West. I personally feel that current activity levels being witnessed are unlikely to quell through a replenished Spring market." 

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