As mortgage lending across the UK shows impressive month on month growth and house prices rise for the sixth consecutive month, Midlands housebuilder Walton Homes has announced that it has exceeded sales targets for 2009. 

In response, the second phase of a development of luxury apartments has been launched in Mere Green, Sutton Coldfield, with construction now well underway. Two new sites in Tamworth and Handsacre will be launched to the market early next year, along with the second phase of a large residential scheme in Two Gates, Tamworth.

“Midlands housebuilder Walton Homes has announced that it has exceeded sales targets for 2009″

Andi Summerton, managing director of Walton Homes said: “Confidence is certainly returning to the market, however, compared to three years ago, the number of people who are looking to move is still a fraction of what it once was. Consequently, the number of properties actually on the market is drastically low. Auctioneers are seeing many of their residential properties sell for values well above optimistic predictions and some estate agents are reporting that popular homes that come onto the market are selling close to, or even above the asking price, due to the growing number of vying purchasers.

“Confidence is certainly returning to the market, however, compared to three years ago, the number of people who are looking to move is still a fraction of what it once was”

“The footfall across our sites in the Midlands is up considerably since the start of the year, as is our rate of sale. After a very tough start to the year, we have managed to exceed our sales targets for 2009 and are now gearing up to launch new sites early next year. It is abundantly clear that there is a lack of new homes in the Midlands and we are keen to respond to local demand. However, we are also naturally wary of increasing our market exposure at a time when the economy is still very fragile.

“There are a number of very attractive mortgage products available, but purchasers are required to have large deposits and not all mortgages are available on new homes purchases, which isn’t helping to reignite the housing market. However, based on our sales results over the last couple of months, we are looking forward to a healthy performance for 2010, but we believe this heavily depends on how soon the UK manages to reverse the recessional trend.”
 
Walton Homes’ current development portfolio comprises luxury family homes at both Honeybourne Grange in the sought after village of Alrewas and at Willowmead in Stapenhill, close to Burton on Trent. Elsewhere in Staffordshire, the family-owned developer is creating character rich one, two and three bedroom homes at the historic Hemlingford Mill conversion next to Kingsbury Water Park. In a tranquil setting in Kings Bromley, Walton Homes has also recently completed a £1.5million statement home that exudes designer style and opulence.

In affluent Mere Green in Sutton Coldfield, Walton Homes is marketing large luxury apartments at a sensitively designed development named The Lincombes, where the second phase has just been launched. In Corby in Northamptonshire, the house builder is nearing the end of the development programme at Radbrook Rise, which has been an extremely popular development of 101 two, three and four bedroom homes.  

Andi Summerton added: “The Midlands housing market has bottomed out, but the shape and speed of the long awaited recovery is very much undetermined. The cash injections into the new homes industry that have been promised by the Government are only just taking effect and with over £50million being invested by the Homes and Communities Agency into 22 sites in the West Midlands alone, it will certainly aid recovery.”

Information on Walton Homes’ development portfolio can be found on www.waltonhomes.co.uk