Posts Tagged ‘homebuyers’

Affordable home loans to put a spring in the buyer’s step

Tuesday, February 21st, 2012

 

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

A generation locked out

Thursday, September 29th, 2011

It’s a tough old time this recession, particularly if you’re in your twenties. As graduate unemployment heads towards 20 per cent and school leaver joblessness hits 50 per cent, the future for young people seems pretty bleak.

Do you want somewhere to live? Bad luck, rent’s sky high and energy bills are rising so you might as well forget saving. Yes, the future for young Britons appears to be fairly gloomy with that triple threat of massive debts, dower job prospects and the rising cost of living. So is there any hope?

The answer, believe it or not, is yes. I for one cannot help but admire the stoicism of a generation in which 9 out of 10 still have home-owning aspirations. The recent research conducted by property website New-Homes showed that 89 per cent of 18-34 year olds, who don’t already own a home, wished they did. With the financial climate as it is, the rest of Britain might wonder as to how they haven’t been put off all together but this would be missing the point would it not? Homeownership is ingrained in our national DNA.

It was only last week that a young graduate tweeted @MillerHomesUK the following:

“As a 22 year old graduate starting a new job in two weeks I’ve got no money but would love my own.”

Forgive me for generalising but in light of the survey results it would seem that our tweeter represents a fairly large cohort.

Now, whether it’s a planning debate or a mortgage famine that’s hogging property media headlines, as an industry we should be vocal about it, government responsibility or not. The survey results clearly show there is a demand for new homes but the issue being that those aspiring to become First Time Buyers (FTBs) are locked out of the market. On the whole, it’s high time that the government properly addressed the fact that they abandoned a generation when the markets slumped in September 2008.

For us at Miller Homes it’s always been a simple case of supply and demand. We’re constantly looking for innovative solutions to ease the financial burden that’s on your shoulders when it comes to buying a house and I believe the housing industry has a responsibility to provide purchase incentives and keep affordability and accessibility a priority. Social mobility is essential to 21st century Britain and making sure that potential FTBs get all the support they can is integral to that mobility.

By Sue Warwick, National Marketing and Sales Director

Avoiding slum nation for the next generation

Thursday, September 22nd, 2011

The last few weeks have seen a sudden shift in media attention from house prices to housing shortage.  Hallelujah!

For months now I have been warning that Britain is rushing headfirst into a real housing crisis and, recently, I’ve noticed several others getting more vocal on the issue – not least the Home Builders Federation (HBF).

However, when the subject starts being talked about at Number 10, you know you’re getting somewhere.  Yes – David Cameron told MPs earlier this month: “House building is too low in this country, and as we all know, the typical first-time buyer is now in their mid-30s. So we need change – we need more houses to be built.”

About time too!  For reasons out of our control, the housebuilding industry isn’t able to deliver the number of homes required to house our growing population and unless the Government takes action, they will leave behind them an appalling legacy.

However, the housing crisis is right in front of their nose right now.  According to a major study, the results of which were published a couple of week s ago, housing conditions in Britain are among the worst in Europe and cost the nation about £7bn a year by adding to the pressures on the NHS and other public services.

Almost 4,000 people are now sleeping rough on London’s streets – an increase of eight percent since last year.  The number of families on housing waiting lists in London doubled to 362,000 between 1997 and 2010 – and this accounts for just 20% of the waiting list nationally.

In the capital alone, there is expected to be an increase of between 30,000 and 34,000 households every year for the next 25 years, a large proportion of which will be single-person households.

Dr Stephen Battersby, president of the Chartered Institute of Environmental Health (which brought the housing groups together for this report) said of its findings; “The lack of a coherent housing policy for the past 30 years has created an expensive housing market with a shortage of affordable housing.”

There is more to the crisis than just that, but there does need to be an action plan put in place – and sooner rather than later.

The blueprint recommendations of the report were to tackle the housing shortage by the provision of 500,000 green and affordable houses and flats over the next seven years, including bringing empty houses back into use – much like what we have done recently with Infusion our development in Moss Side.

In my view, this will be a good start but unless the Government persuades the banks to increase mortgage supply, they will be fighting a losing battle.

I am hoping that Cameron’s comments were more than just rhetoric on this critical issue but only time will tell and time, I am afraid, is not on the PM’s side with this one.

By Sue Warwick, National Sales and Marketing Director

Cramped Living? Think again!

Friday, September 16th, 2011

If there is one thing nearly all of us wants, it’s a bigger house so it’s of little surprise that when RIBA decided to tell the world this week that new homes were simply too small, they got such wide spread publicity.  What was surprising – to me at least – was their failure to put their findings into any sort of context – and to whip up a media storm with little thought for the consequences.

You see, for the most part, we all want more – but at what price?

Let’s start from the beginning.  According to RIBA a typical three-bed  new home is 8% too small.   Apparently we build “shameful shoe-box homes” and are responsible for “cramped living”.  Sorry, but that is ridiculous.

We build homes that meet local planning policy guidelines. If we submitted a planning application that saw us putting sprawling five bed detached homes in an area where house prices were already out of the reach of many, this would not be popular. In the current climate, getting a mortgage is difficult enough.  The last thing we need to be doing is making it even harder.

What’s more, housebuilders are under pressure from central and local government to make best use of the land available.  Because there is a limited land supply in this country – land given over to residential development is limited.

The third problem with this report is its total failure to mention the mere matter of the housing shortage.  I’ve said it before and I’ll say it again – we are staring down the barrel at the worst housing crisis since WW2.  I would love to pontificate award winning-design over lunch sometime, but for now I have got to crack on and do my bit to get the housebuilding industry moving again.

Consider this: owing to the problems we have faced over recent years, our industry is delivering around 100,000 new homes a year against a predicted requirement of around 250,000.  Already we have more households than homes and this is only going to get worse.

Quite frankly, unless something changes and fast, half of us will be thrilled to have a home at all by 2030 and the fact that it is 8% smaller than we might like won’t even feature on our radar.

My fourth and final comment on this report, is that it doesn’t remotely reflect what people who buy new homes actually think of them.  Year after year, our customer satisfaction scores at Miller Homes climb ever higher – and that is echoed across the industry. In fact, we are fiercely proud of our product and would never sell anything that we ourselves wouldn’t be happy to call home.

We are also doing everything we can to help aspiring home owners (and existing ones too) to achieve their dreams. Our range of purchase incentives is designed to aid home buyers and bridge the affordability gap – and we have helped hundreds of people to move who had given up hope.

In conclusion then – the Home Builders Federation (HBF) recently said of this report, that it was looking at housing statistics in a ‘vacuum’. I think that was putting it kindly – but I agree with the sentiment.

Like I say, we all want more – but at what price?  If it’s making homeownership something just for the rich and making more people homeless – I’m out. And so I expect, are you.

 

By Sue Warwick, National Marketing and Sales Director

Good times ahead

Thursday, August 25th, 2011

Whilst the general media is often guilty of overlooking some of the more positive news that there is about the property market, I like to make sure that we at Miller Homes make that good news our focus. For many, the recent predicted rise in house prices is a shock rise, for us, as you’ll see from many of our previous blog posts, this has been a long time coming.

The Think Tank held by the Centre for Economics and Business Research has predicted that by 2015 the average British home will be worth more than £200,700 – a rise of 14 per cent. This record high average is even £10,000 more than the previous property market boom year, 2007’s peak, and is the strongest sign to date that the property downturn is finally coming to an end.

Rising demand and lack of supply were always going to put fierce pressure on the housing market meaning something had to give. However, the recent increase in the availability of mortgages and interest rates predicted to remain below 2% until 2015 are the real game changers for new homeowners. For a start it means that mortgage payments won’t dramatically rise. For those of us who have struggled recently, don’t have huge pension savings and aren’t expecting a salary increase, the news that the nations property value is rising will come as a relief.

As a growing nation we still need to be concerned about the property shortage that faces our increasing population but with the 2012 Olympics round the corner, likely to bring with it another property market boost, there are definitely good times ahead.

Certainly, with this in mind, now is as good a time as any to buy a new home.

By Sue Warwick, National Sales and Marketing Director – Miller Homes

The best time to invest in property since 1964!

Tuesday, July 26th, 2011

If you are looking to invest in 2011, you may find yourself scratching your head wondering where you can get a good return on investment these days.

Interest rates offered by the banks on savings accounts are still low.  The stock markets are volatile, especially with the high levels of debt running throughout the Eurozone and the US.  The price of gold has hit a record high but this upward trend may not continue forever, as the price is inflated when compared to other commodities.

So what about investing in property?  Well if you look past the small fluctuations in house prices, there are two current economic factors that are creating substantial returns for property investors.

The first factor is interest rates. As we all know, The Bank of England base rate has now been at an historically low level of 0.5% for two years and four months.  It’s worth noting that it has never been this low before, not in its entire history dating back to 1964!

Secondly, demand for rental property has never been so high.  According to LSL Property Services, the average rental price has risen by 4.1% over the last 12 months and is now at an all time high of £701 per month.

So low interest rate buy-to-let mortgages combined with high rental prices are the reason landlords saw an average yield of 5.2% in June.  Plus it isn’t just in London, rental prices in June in the North East and West Midlands rose by 5.1% and 4.6% respectively.

But what about the long term value of your investment?  Well if you consider the 750,000 homes shortage by 2025 (detailed in our recent blog), then I would expect property prices to increase in years to come.  Investing in a new home will also limit the maintenance costs associated with older properties.

So it sounds like a winning formula.  But remember if you are thinking of becoming a landlord, do your research first and don’t forget the pitfalls that can occur with rented property.

Another attractive investment is our MiFamily deposit scheme.  If you can help a family member with their deposit, you can earn the equivalent of 5% interest over 5 years.  Plus, this is paid as a lump sum once the purchaser has legally completed the buying process.  See www.millerhomes.co.uk/familydeposit.

So as the title suggests, perhaps now is the best time to invest in property since 1964…!

By Andy Moorhead – Marketing Manager, Miller Homes

At the heart of the home

Wednesday, July 20th, 2011

 

Last week, results from our latest Facebook poll answered a much debated topic in the Miller Homes office -what is the favourite room in your house?

It is true that as a nation we love our homes. A man or woman’s home is his or her castle. But even within that castle, we have our favourite rooms.

Our social media community answered this question for us and looking back, the results were not surprising.

As a nation we remain positive about our home-owning dreams. Even during dark economic times, sure and steady optimism coupled with a stiff upper lip characterise our home owning aspirations. But it’s about more than just owning a small piece of Britain, isn’t it? When looking to make a house move the most important decision is often whether it is the right time for you and your family. After all, owning a home is about bringing families together, in a place that is entirely yours and which you can call your own. It’s not surprising then that our favourite room is the one that brings the family together each and every day.

Yes, the kitchen, heart of the home! From the beginning of time, when our homes were caves and mud huts, mealtime brought us together, albeit not in a kitchen but our hairy ancestors did discover fire (I see this as a pre-historic equivalent), and not much has changed since. There is something intrinsically human about coming together at the beginning and the end of our day, sharing with each other and being together.

This was made obvious in the feedback from our poll and across our Facebook and Twitter following. The heart of the home is where the family is. The same goes for some of the other popular choices in the poll, like the lounge.

It is this human characteristic that is behind our valuation of the rooms in our houses, which drives our home-owning aspirations and certainly our firm belief here at Miller Home’s that every family has the right to a place they can call their own.

By Sue Warwick – National Sales & Marketing Director, Miller Homes

Clicks and Mortar

Thursday, July 7th, 2011

Big changes are afoot here at Miller Homes HQ.   No, we are not about to start building boats and caravans – but we have got ourselves a shiny new welcome page on our website, and added in some extra touches too.

In short, the world has changed since our first website went live back in the early noughties.  Back then, no one Tweeted and Facebook was something students used when they should have been at lectures.    They still do I guess – but the rest of us now use it when we should be working too!

I was particularly interested to note that the Twitter audience jumped by a third during “Giggs Gate”.  Yes, the way we get our news has changed forevermore – and so has the way we find our new homes.

Last year, MyHomesLife carried out a survey of 9,000 househunters which revealed that 71.8% of househunters now start their househunting online.

This is why we’ve always invested in our online activity and our website has always been incredibly popular with househunters.  For those that don’t know, in 2004 we became the first British housebuilder to enable our customers to track the build progress of their new home online at mymillerhome and in 2007, we launched our own social networking site (I am not sure we realised just how ahead of the game we actually were then!) – mymillerstreet.

As a result, we have picked up many, many awards for our website over the years and only last years, readers of First Time Buyer Magazine commended our online offering.

As a result of all this, our website traffic has reached new levels.  Every time we launch a national marketing campaign, we break new records.

But nothing in life is perfect – not even our website – and with so many people now getting their first impressions of Miller Homes through our website, we want it to be as brilliant as possible – and to truly reflect us as a business.

So, on our homepage you can now see what we have been tweeting and blogging about.  You can see our full range of fantastic incentives – and finding your dream home is easier than ever thanks to a new and improved search function.

I should stress that this is the just the beginning of our website refresh programme so there will be plenty more to see over the coming months.  Well, why give everything away all at once?

The recent changes have been developed in line with customer feedback and we are always interested in hearing what people think of us and our products so please share your comments with us – either below or on Facebook or Twitter.

In the meantime, I hope you like what you see – and that you will keep on coming back for more!

Happy surfing.

Sue Warwick - National Sales & Marketing Director, Miller Homes

Launch of astronomy at The Meadows, Durham

Thursday, May 26th, 2011

 

Residents, children and Miller Homes staff were seeing stars at the weekend, as we launched a Galaxy Garden with two astronomical sculptures at the heart of The Meadows development in Framwellgate Moor, Durham.

The Centre of the Galaxy Festival saw the community celebrate the unveiling of the artwork from where they can view both the exact centre of the galaxy and the North Star.

The Galaxy Garden was commissioned by Miller Homes as part of a percentage for Art commitment to Durham County Councils Durham City Arts. Based on the theme of astronomy, the artwork itself is a collaboration between sculptor David Edwick, poet Carolyn Jess-Cooke and landscape designer Tom Robinson. The festival event was brought together by DCA’s Suzy O’Hara, so thanks go to her for the hard work in making it such a success.

As well as creating a creative spot where the community can come together and relax, the Galaxy Garden allows residents and their children to learn about astronomy in a fun way.

Officially unveiled by the Mayor of Durham, Councillor Les Thomson, the launch event started with a procession through the development from residents and students from Framwellgate Moor High School, who looked out of this world in their own intergalactic costumes – solar system hats and shooting star backpacks! Leading the way was a processional brass band, which helped to liven it up and added to the carnival atmosphere.

A specially commissioned dance,from Durham Tin Arts was also performed by the students to a newly commissioned piece of music composed by Durham University student Dan Jeffries.

Residents were also treated to a planetarium, face painting and live music by a gamelan band and two residents Nigel Brown, a music teacher and Marcus Black, a guitar vocalist, gamelan band.

There was also space-themed bake-a-cake competition, which saw some great entries form children as well as adults.

Within the Galaxy Garden is two sculptures – The Centre of the Galaxy Viewer which combines a sand stone stepped seat, that forms the tip of a cone, from where people can picture the circular path followed by the centre of our galaxy and a Polaris Viewer, which is a tapered stone column, shaped at the top to point to the fixed Pole star, Polaris. Around the column is curved seating and an earth mound shaped like a comet tail.

Star-gazers can also enjoy the seating, lawns and surrounding lavender beds. There is also a special poem carved on to the retaining walls throughout the development, which people can read and follow and a mesostic poem on the Polaris Viewer.

The garden is something different to your typical play area. As we pride ourselves on community spirit and we wanted to give something special and innovative to our community. It is through schemes such as Percent for Art that we can really bring arts and creativity to the core of our developments.

This is a fine example of what we do when we reach for the stars for our homebuyers. Our plan is for this unique space to become the heart of the development, offering a popular but tranquil spot that combines art, education, relaxation and play to infinity and beyond!

Steve McElroy, Sales Director – Miller Homes

The expert strikes back!

Friday, May 13th, 2011

A long time ago in a galaxy far, far away, the property market was comfortable territory for first time buyers.

No, really, the above statement is true. Negative reports on the property market have stolen the spotlight in recent times, but the quest to get that all important first step onto the property ladder was once much simpler.

Now, before you give up hope on ever owning that dream home, take a look at our army of purchase incentives designed to assist first time buyers. Miller Homes is a property expert which has well and truly struck back.  Our aim is to make your home owning dreams become a reality.

Our Jedi powers led us to believe that 2011 was set to be a difficult year for house hunters and it’s fair to say that this was a fairly accurate foresight. We are therefore doing everything in our power to make the process easier and house buying more accessible and affordable. Thanks to our latest campaign, buyers can turn to the light side and have us pay their utility bills for a whole year*.

Against those negative headlines, we will strike back.

May the force be with you!

Sue Warwick, National Sales and Marketing Director, Miller Homes

* On selected plots and developments, terms and conditions apply