Roger Barrett Connells
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Latest property news
As Connells’ new homes and mortgages businesses boom, what’s its magic formula?
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…
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Latest property news
Connells: performance tempered by Brexit volatility
Connells’ performance in 2016 was described by Group CEO David Livesey as, “somewhat tempered by Brexit volativity,” as the Group’s Q4 report showed activity levels were “influenced by a marketplace that was continuing to recover from some of the challenges of Q3.” However, while viewings were up, the number of offers made was down. Sales were also down by 2 per cent for the year, compared to 2015, but Connells said that it had been instructed on more properties, registered more applicants and seen another record performance in new homes sales. Land & New Homes Connells is doing well in the Land & New Homes sector, with a pipeline of 9,000 new homes. Group Land Director, Roger Barrett, said, “As predicted in our previous Market Report, sales moved forward in Q4 2016 by 15 per cent on the Q3 2016 performance. This improvement reinforced the underlying strength in the land and new homes marketplace and, as such, we completed a number of land transactions in Q4 where demand for short and medium term opportunities remains strong. “The new year has started positively, helped by the fact that new home registrations increased at the end of last year – 15,237 registrations in…
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