As 2011 drew to a close and we welcomed the start of 2012 with open arms, our general feeling was that this year would see plenty of change for the better within the property market. The good news is that this already seems to be the case.

Last week’s news that experts have predicted another five years of the Bank of England’s 0.5 per cent base rate certainly put a smile on my face, and I hope to see the nation’s buyers and movers go about their business with a spring in their step too. Prospects for those looking to buy have been given a huge boost, thanks to the combination of this extended period of the record low base rate and falling inflation.

Admittedly, the news could be better for savers, but we have said for some time now that positivity was what the housing market needed, and we now appear to be making headway in this respect. The old adage that property is the best investment has faced the wrath of the doubters over recent years, but it seems even those with a glass half empty have reason to be positive over the coming years.

Consumer confidence is growing and we are truly seeing some of the most affordable mortgage deals for new borrowers for some time, particularly given the government’s recent unveiling of the NewBuy mortgage guarantee scheme. This, coupled with purchase incentives such as FirstBuy, geared towards the cornerstone of our property market – the first time buyer – means buying that new home will be a reality rather than a pipedream for a greater number of people this year and beyond.

By Victoria Finch, National Marketing Manager

As a new homes developer, keeping our fingers on the pulse and making sure we’re on top of the latest trends and predictions is essential. With this in mind, I recently read the Construction Industry Forecasts for 2013-2015 – an annual analysis of the pressures facing industry and the drivers likely to influence it over the next five years.

Now, typically after reading this report I wouldn’t feel the need to share its findings in blog form, but this one was packed with such positive predictions of things to come over the next 3 years (especially as it comes amidst what has been a difficult period) I couldn’t help but feel the need to share my edited highlights.

We are likely to see a 29% growth in private sector housing starts between 2013 and 2015.

Yes, really!

According to the authors of the report, housing starts will climb a very modest 2% this year before “more certainty over economic recovery, combined with measures in the housing strategy”, boost a housing recovery.

The report points to a number of critical factors influencing its predictions – most notably Mortgage Indemnity or as it is now called, NewBuy Guarantee.

For those that didn’t know – Newbuy Guarantee is a scheme backed by both house builders and the government which encourages lenders to increase the availability of mortgages to purchasers with relatively small deposits of 5%. The new scheme, heralded as a way to get First Time Buyers back into the market, offers 95% loan to value mortgages that will be available to people spending up to £500,000 on a new-build property. It is envisaged that up to 100,000 buyers will benefit from the underwritten loans, with the Government’s liability capped at a hefty £1billion. Miller Homes have already been confirmed to be able to offer the 95% mortgage.

This isn’t the only piece of good news for house hunters (and builders) either.

According to the report, a modest growth in earnings – coupled with static (or falling) house prices -has improved affordability right across the UK.

For first time buyers this means that the average house price to earnings ratio has moved from 4:5 in 2003 to 4:4 in 2011.

On top of all that, low interest rates have driven average monthly mortgage payments down to an eight year low.

In a nutshell, according to the Construction Product Association, the new homes industry should be building (or at least starting to build), 130,000 homes a year by 2015 – an increase of 43% on 2010.

Obviously, this is good news for home developers but more importantly it’s good news for the house hunter too.

Confidence is creeping back into the market, the Government is committed to helping first time buyers – and it’s all beginning to work.  Britain is building again.

Over time, the new homes industry will create more jobs; raise more revenue for the treasury through stamp duty and the like, increasing the country’s housing supply and alleviating the risk of another housing bubble.

In short, all this is good for the economy – and what is good for the economy is good for all of us.

By Victoria Finch, National Marketing Manager

Buzz around the property market at the moment only suggests one thing – the return of the investor.

Right across our regions, we’re expecting a second buy-to-let boom in 2012, with  rental values in many areas reaching a historic high and void periods (when rental properties are unoccupied) becoming a thing of the past.

Already, according to recent data from the LSL Property Services Buy-to-Let Index, the average rent in England and Wales has never been higher.  As a result, demand for quality rental properties is continuing to soar and there is fierce competition among rental tenants to secure a home – particularly in some of the prime locations.

Indeed, here at Miller Homes, we began to see a marked increase in the number of landlords towards the tail end of 2011, and we expect this upward trend to continue throughout 2012.

We’re not alone in this thinking either.  Recent research from specialist buy-to-let lender, Paragon Mortgages, suggested that more than 22 per cent of landlords expected to buy additional properties in the New Year, while just eight per cent were considering reducing their stock in comparison.

All in all, thanks to low interests rates coupled with the worst housing shortage since the Second World War, property is once again being seen as pretty much the soundest option for long term financial investment.

But where does this leave First Time Buyers? Well, according to the most recent Zoopla Rent vs. Buy index, buying is now more affordable than renting in 47 of the 50 largest towns across the country.

Buying is obviously the most sensible option – but that hinges on getting a mortgage, and that hinges on raising a deposit, naturally.

Or does it?  There is a raft of options available to First Time Buyers and Second Steppers alike in the form of equity loans – where a new homes developer (and the Government in the instance of FirstBuy) lend buyers up to a maximum of 20% of the purchase price (based on the open market value). This means that qualifying house hunters only need to fund the balance of the purchase price (as little as 80%) by means of a conventional mortgage (from a Qualifying Lending Institution), savings and any deposit where required.

As well as FirstBuy, by March this year, the Government Backed Mortgage Indemnity scheme, NewBuy Guarantee, will become available, helping purchasers get on to the property ladder responsibly. The new scheme, heralded as a way to get First Time Buyers back into the market, offers 95% loan to value mortgages that will be available to people spending up to £500,000 on a new-build property.

All of this paints an interesting picture.  When the recession first hit, back in 2009, the availability of buy-to-let mortgages dried-up overnight and investors all but disappeared from the marketplace. The recent return of the investor is no doubt a positive sign that property is once again being seen as a sustainable investment and crucially, would-be landlords are finding it easier to raise the necessary funds.

Add to this the help available to First Time Buyers, 2012 looks set to be a milestone year in residential property, with the potential to be a real turning point for the industry, investors and buyers alike.

Watch this space!

By Chris Endsor, Chief Executive of Miller Homes

Here at Miller Homes we have been celebrating the fantastic achievements of Bill Hughes, our record-breaking site manager who has won one of the most prestigious accolades in the house building industry for the fifth time – a first in the competition’s history.

Bill became the first candidate to win the much coveted Large Housebuilder Category for the fifth time at the National House Building Council’s (NHBC) Pride in the Job Supreme Awards last Friday, he previously won the same category four years in a row from 2003 to 2006, as well as placing runner-up in 2008 and 2009.

Bill was crowned the Supreme Award-winning site manager in the large housebuilder category, following a rigorous 18 month judging process and we’re all thrilled here at Miller Homes. This is a truly unrivalled and unique achievement. Winning the category is recognition for all his hard work, efforts and dedication to excellence at all times. The fact that Bill has won this fantastic industry award category five times is an incredible achievement.

The NHBC Pride in the Job initiative assesses all of their registered site managers in the UK, working across a range of different sites, to find and reward those who show dedication and excellence in every aspect of the job.

Pride in the Job recognition within the house building industry is something which we all strive for.  This year we have been fortunate to have three very worthy finalists in the running for the Supreme title and their achievements reinforce the exceptionally high standards adopted by Miller Homes, giving our customers the confidence that their homes are being built by award winning site managers.

My congratulations also go out to Patrick Malyn and Scott Brown, who were  among the 32 regional award winners that made it through to the Supreme Awards.

Over 13,000 site managers working on NHBC registered sites were automatically entered into the competition.  Bill’s win and Pat and Scotts’ achievement in reaching ‘Supreme’ status is testament to the high quality of workmanship, site safety and management that we demand on all of our new build developments.

Well done Bill.

By Chris Endsor, Chief Executive of Miller Homes

It’s not everyone’s favourite month, January. Usually marked by the post-Christmas lull, frosty temperatures and the prospect of unwelcome credit card bills (let’s face it, Blue Monday’s a dark day on all calendars), I can see why some people possess negative feelings towards the first month of the year. But, the way I look at it, things don’t have to be so bad!

2011 was challenging for many, but on the back of some of the successes we had at Miller Homes (see the last blog post) it’s hard not to feel positive about what can be achieved in 2012 if you stay optimistic. The housing market demonstrated some resilience last year as house prices grew by 1%. With predictions of a more stable year ahead coming from many of our industry peers and growth levels of around 2% predicted by Rightmove, it’s clear to see that we’re on the right path to securing prosperity and stability in the housing industry.

It’s also worth noting that with the current Government stamp duty relaxation due to finish on March the 24^th, the first quarter of this year will be a great time to buy if you’re a First-time buyer. Currently, the concession allows First-time buyers to save up to 3% on the purchase of a property of up to £250,000 – my advice would be to buy now! And even if you miss the savings that come with the stamp duty holiday there is still a raft of purchase incentives available to help any potential customer find their dream home.

So, if your new year’s resolution for 2012 is to buy a new home, make sure you visit http://www.millerhomes.co.uk or a take trip to one of your nearest Miller Homes developments.

By Victoria Finch, National Marketing Manager

With the festive season in full swing and 2012 hot on our tails, it seems only fitting now to spread some goodwill and round up some of our very own celebrations.

We at Miller Homes have had an excellent year (again).  Our client satisfaction scores hit a high this summer, we had our best ever year for Pride in the Job winners (26 – a Miller Homes record), we won Best Large Housebuilder at the Scottish Housing Awards, Private Developer of the Year at the First Time Buyer Reader Awards, Best Affordable Housing at the Housing Excellence Awards – and much, much more. It’s not too hard to see why over 97% of our customers would recommend us to their best friend!

It’s even better to finish the year with news from the kind people around our developments. It’s been fantastic to see charity at home in Yorkshire and North Nottinghamshire this December. Times may be tough but that’s not stopped nearly 50 toys worth over £350 being donated.  Similarly, in the West Midlands people are being encouraged to think about those less fortunate than themselves and donate winter essentials to the Birmingham Christmas Shelter. There’s certainly no evidence of  Ebenezer Scrooge in these regions.

We have had a great year and we are doing all that we can to assist people all over the country make their home- owning dreams come true; our wishes for 2012 are as follows:

1. FirstBuy Fame.

FirstBuy is a truly brilliant scheme.  It gets people onto (and up) the housing ladder that would have struggled to move otherwise.

Basically, anyone who qualifies for FirstBuy is offered an equity loan of up to a maximum of 20% of their purchase price (based on the open market value). This means they only need to fund the balance of the purchase price (as little as 80%) by means of a conventional mortgage (from a Qualifying Lending Institution), savings and any deposit where required. And despite its name, it isn’t just for first time buyers either.

We just need to keep getting this message out – before people miss out.  It won’t be around forever.

2. Confidence in the Market

We in the UK are very good at talking ourselves down, but far less so at talking things up – and right now, we really need to.  There are plenty of reasons to stay positive – mortgage supply is much better now than it was a year ago, FirstBuy is helping to get first time buyers onto the property ladder (which the market really needs), the Government has pledged to do more to ease the housing shortage and houses are selling. They really are.

3. Rent Realisation

In great swathes of the UK, it will now cost you less each month to buy a home, than it would be to rent the exact same one – but not enough people can see that.  Now really is the best time to buy and hopefully more and more people will realise this over the coming months.

4. Low Interest Rates

It’s low interest rates that are making owning a home so wonderfully affordable at the moment.  Let’s keep them that way.

So, whilst our fingers are crossed for the above and we look forward to another year of making owning a dream home a wish come true, it’s fantastic to have all of your support along the way. Whether you’re a Miller Homes customer, fan, follower or reader, I wish you a happy Christmas and a prosperous New Year.

By Chris Endsor, Chief Executive of Miller Homes

For those of you currently looking at your options in a challenging property market, Firstbuy is the scheme introduced by the government earlier this year to offer a helping hand to those who may otherwise struggle to get that ever-desirable first step onto the property ladder.

As the name of the scheme suggests, Firstbuy is primarily aimed at first time buyers – the lynchpin of the UK housing market. What the scheme offers is financial support to the tune of up to 20% of the purchase price – meaning that the buyer may only have to fund as little as 80% of the purchase price themselves. The 20% equity loan is made up of equal contributions from the HCA and the housebuilder and is only repayable after 25 years, or when the property is sold or remortgaged – whichever comes first.

Whilst the name of the scheme indicates that it is targeted at first time buyers, this is not the only group able to benefit from the government’s assistance. Key workers, members of the armed forces and those who have previously owned properties but are now unable to buy or move without assistance also qualify for Firstbuy, which is expected to assist some 10,500 purchasers into a new home over the next two years.

So house hunters take note – even if you are looking to buy a home which is not your first, Firstbuy may be able to give you the helping hand you need. Failing that, we have our very own range of purchase incentives, tailor-made for house hunters nationwide who are searching for that dream home.

By Michaela Lancaster, Miller Homes Regional Sales Director – North West

It’s around this time every year that energy bills leave consumers out in the cold. With winter evenings turning cooler and darkness falling long before most people get home from work, the inevitable worry about winter bills creeps in. Despite the recent simplification of tariff structures from one of Britain’s biggest suppliers, energy bills are expected to rise still.

The average household dual fuel bill in the UK is now £1,293 – a number pushed up by an estimated £224 over the past year.

I’m not going to debate the causes behind rising fuel costs. There are many factors that have pushed up fuel bills in 2012; EU carbon reduction targets, a sluggish economy and knock on effects from world disasters have all played their part. However, there is one way to beat the bills- aside from donning that extra Christmas Jumper.

If you’re looking to buy, a new home this could be the perfect way to save on future energy bills (as well as avoid the soaring prices of rent). Admittedly, this isn’t an option that is available to everyone, but on the back of the recently announced Housing Strategy for those that have been waiting patiently, now could be the smartest time to buy a new home.

New homes are built to the latest environmental standards and are up to six times more energy efficient than older style properties. The latest innovations in design mean that all of our homes benefit from wall and roof insulation, low energy, high output heating systems and double glazing to ensure that the heat is kept well and truly locked in.

Whenever energy companies make headlines with rising fuel prices and large profit margins, I can’t help but think that buying a new home is becoming the smartest investment in these tough economic times.

UK homeowners will increasingly look to green technologies to help them save big money when it comes to household energy and new homes right now are the best possible way to ensure you get the maximum out of your thermostat!

By AnneMarie Britton, Sales Director, Miller Homes Scotland East

With plunging temperatures and darker evenings each week the summer days are definitely over.

To be honest, you might be relieved to finally have a reliable season ahead. Despite the frosty bite, winter generally does exactly what it says on the tin and this does mean that any home preparation you make, whether it is frugal groundwork to tackle those energy bills or extra insulation to keep the evening chill at bay, is well worth it.

And knowing a fair few things about homes ourselves (it’s hard not to with over 80 developments throughout the UK), we decided to share a few tips for beating all that winter might have to throw at your home.

1. Heat Efficiency – More than 80 per cent of home energy use is for heating and hot water so it’s important to make sure you’re using your heating system in the most efficient way possible. Using a thermostat for your radiators and hot water means you won’t waste unnecessary energy, and you’ll very likely shave a bit off that utility bill. Also, if you’re looking to move, visit www.millerhomes.co.uk – new homes are really energy efficient with new heating systems, windows and better insulation.
2. The illusion of warmth – Nearly just as important as actual warmth is creating a warm and inviting atmosphere. With the festive period upon us this shouldn’t be too hard. Festive colours, candles and homely scents always give the impression of warmth. If you’ve reserved a new Miller Home, you can even choose from a wide range of options that help make your new home just the way you want it – perfect timing to decide on warm colours and textures that you’ll want to decorate with once you’ve moved in.
3. Wrap up – there’ll be a fair amount of wrapping over the next 6 weeks but possibly the most important will be for your home. It’s quite literally time to feather your nest so if you haven’t already, replace your summer duvet with its winter counterpart and think about putting scatter rugs down on tiled and wooden flooring and a few extra blankets on the couches.
4. Keep the pipes running –There’s nothing worse than returning after a weekend of merriment to a cold, sobering home with frozen pipes. With the heating on in the morning and evening whilst you are away you won’t have to worry about freezing pipes.
5. Be prepared – Based on the last two years, there’s a very good chance that at some point over the next three months you will find yourself snowed in or with a power cut – potentially both. Make sure you’ve got the right provisions and if there is a power cut, make sure you’ve got candles, back up batteries and the phone numbers written down for your utility companies.

All in all, this should help you make sure that the home really is the best place to be this winter.

By Victoria Finch, National Marketing Manager

Last week, I read some interesting statistics from Rightmove, based around the impact the FirstBuy initiative has had since the government introduced the scheme earlier this year.

According to the survey results, 45% of potential first time buyers now believe they are more likely to get on the property ladder thanks to FirstBuy. Of course, this is an extremely pleasing figure, not only for the government, but also for those housebuilders and developers like Miller Homes, who offer the scheme on a number of developments across the country.

Reading on however, it appears that some 37% of first time buyers had not previously heard of the government-funded scheme, which suggests the industry still has some work to do in order to maximise the scheme’s undoubted potential, particularly given the current financial climate.

At Miller Homes we are fully committed to promoting the FirstBuy scheme and will continue to promote it across each of our regions nationwide.

Part of this will involve us getting the message out to not just first time buyers but also to key workers, families who may be struggling to get a large enough deposit together and people who have previously owned properties but are now unable to buy/move without assistance, for example in the case of relationship breakdowns or families who are over-crowded and need to buy a bigger home.

One of the strengths of the scheme which is occasionally overlooked is that it is targeted at these groups of people too, not to mention members of the Armed Forces, who our housing minister, Grant Shapps, is keen to support.

Our experienced on site sales advisers are always happy to assist anyone who wants to learn more about how FirstBuy, or our extended range of tailor-made purchase incentives, can help them get moving.

Steve McElroy, Regional Sales Director