Positive news for the North West
The UK faces a significant housing shortage, with a deficit of 4.3 million homes. The new government aims to build 1.5 million homes within this parliamentary term, focusing on regions like the North West.
Quayside Construction is ready to contribute to this ambitious target by leveraging its expertise in residential development.
Positive prospects for North West
Halifax’s research shows that the North West experienced a house price rise of 5.3% during 2024, which is 2% higher than the national average. This was only surpassed by Northern Ireland, where values increased by a huge 7.4% over the same period.
What’s in store for 2025?
It can be very difficult to predict how the housing market will perform, as it can be affected by a wide variety of factors. It is important to note, though, that certain fundamentals will always exist, and support the market: demand for housing, balanced by the supply of new homes being created.
In the North West, it is this heightened appetite among homebuyers and property investors alike that is expected to continue to push prices upwards. In the wider market, too, there remains a shortfall between the number of properties available and the number of people seeking homes.
Amanda Bryden, Head of Mortgages, Halifax, addressed some other issues that could affect the market in the coming months:
“The housing market was broadly steady at the start of 2024, with house price growth taking off from the summer onwards.
Looking to the year ahead, she added: “Where does that leave the housing market for 2025? While the housing market has been supported in recent months by falling mortgage rates, income growth and the announcement on upcoming Stamp Duty policy changes, mortgage affordability will remain a challenge for many, especially as the Bank Rate is likely to come down more slowly than previously predicted.
“However, providing employment conditions don’t deteriorate markedly from a more recent softening, buyer demand should hold up relatively well and, taking all this into account, we’re continuing to anticipate modest house price growth this year.”
James Kelly highlights why Quayside is different:
“Built on family values, empathy, and passion, Quayside isn’t your typical construction company. While many in the industry chase quick wins, we nurture every project as our own, with attention to detail and a commitment to exceeding expectations. We are proud to have a growing reputation for the construction company of choice for architects and domestic clients
I believe we embody the principles of family values, empathy, passion, and trust at the heart of every project. More than just a construction company, we partner with our clients to make sure that every project is in safe hands, delivered on time and on budget.
Exceeding expectations by creating exceptional spaces is in our DNA plus we believe that by redefining the construction industry by focusing on solutions, not problems and delivering results means our clients enjoy a happy experience with complete peace of mind.”
From refurbishments and conversions to new builds, we promise collaboration, clear communication, and attention to detail from the very start. To find out more and arrange a no-obligation chat please email James today.