Connells appears to have blown the Brexit cobwebs off its business following two key announcements.
The company says that last year its network of offices, which includes Connells and Sequence branded branches, recorded a six per cent rise in new homes instructions and a five per cent increase in exchanges compared to 2015.
It also says its 40-strong land team has increased returns from its land department by a third in 2016 and that it is optimistic about this year.
“The fundamentals of the market remain strong – there is continued appetite for land to meet the demand for new homes, a pro housebuilding and pro homeownership Government in place, buyer incentives and good, competitive finance available,” says Connells Group Land Director Roger Barrett (pictured, left).
“This, alongside the steady growth in new homes supply from national, regional and local house builders, will see a buoyant market where we will experience further growth in the total number of new homes sales in 2017.”
It’s mortgage business has also been doing well and in 2016 recorded a 10% increase in the number of mortgages its arranged for customers compared to 2015, generating a loan book of £10.3 billion.
One surprising figures from this part of its business is that buy-to-let mortgage lending increase by 6%, despite the government’s recent attempts to stop landlords taking any greater share in the private rented sector.
“Brexit didn’t dent consumer confidence in bricks and mortar and we are also seeing the number of returning customers grow,” says Adrian Scott, Connells Group Mortgages Services Director (pictured, right).
“To service this demand, we continue to invest in our business offering our customers a consultant in every branch, boosting our customer support teams and growing our specialist new homes mortgage advice via the Group’s subsidiary The New Homes Group. This ensures as many buyers as possible have access to our mortgage advice.”