Feb 19 • General discussion
Good news for developers
Our industry, like many others, has felt tough for a while.
I tend to define it as “post-Truss”. Since then, confidence has wobbled, costs have risen, sales periods have lengthened, and there hasn’t been a huge amount to celebrate.
So when something genuinely positive happens, it’s worth sharing.
The CGI attached is a scheme of 9 apartments in Hitchin.
Practical completion is due this Spring.
And here’s the bit that made me smile....
8 of the 9 units are under offer before completion.
Every developer reading this will know how rare that is.
The usual pattern I see is:
- 1 or 2 under offer at best
- A nervous launch period
- Buyers wanting to see bricks and mortar before committing
Which is understandable. Buying a home is one of the biggest financial decisions most people ever make.
But 8 pre-sold before completion?
That’s a strong signal.
It tells me:
- Good product still sells
- Sensible pricing matters
- Location and specification still count
- Confidence is there, selectively
This isn’t blind optimism. The market is still disciplined. Buyers are still cautious. Lenders are still measured.
But when the fundamentals are right, deals get done.
For anyone feeling the weight of the last couple of years, this is proof that well-conceived, well-priced schemes are moving.
Sometimes we need to celebrate the wins.
Who else is seeing signs of confidence returning?
PS. the developer we supported on this scheme with funding isn't in this room yet, but I'm working on that!
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Good news for developers
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