Paul Brown, managing director of award-winning Huddersfield-based Vivly Living, anticipates that the forecast of four base rate cuts will take rates down to 3.5 per cent by the end of the year.
This lowering of the base rate last month to 4.5 per cent comes hard on the heels of proposals to ease mortgage rules to boost the housing market. At the same time, Labour’s drive to cut bureaucracy and red tape to stimulate house building has given residential developers much-needed confidence in the future.
Paul commented: “Taken together, these three announcements and trends are very good news. They will deliver a timely lift to the housing market in Yorkshire and across the UK. Despite headline inflation falling, the Bank has remained cautious about making a decision too soon that could reignite inflationary pressure.
“For homeowners and those who’ve been looking to get on the property ladder, the past few years have been tough, but there are signs of it changing. Rates on mortgage deals have started falling, and it’s going to become easier to get a mortgage. And I’m very hopeful that more cuts will follow.
“This base rate cuts last month should hopefully provide a new wave of confidence and affordability for many. With a government in power that is committed to delivering near two million new homes, the bank’s decision could be a real turning point for homeowners and those who aspire to buy.
“There’s lot of pent-up demand in the market after months of political uncertainty and the base rate cut is the catalyst that we’ve been waiting for. We’ve already seen monthly mortgage approvals sitting at consistently high levels as this pent-up demand across the market has been released and, with interest rates now starting to fall, there are genuine grounds for optimism in the residential property market.”
Vivly Living is currently on site with three successful West Yorkshire developments at Shepley, Skelmanthorpe and Denby Dale.
Paul added: “This stability in interest rates and the general more positive market sentiment is now resulting in an increase in enquiry levels and sales at all three of our sites, especially in the over £400,000 house price sector.”
Phase One of the Knowle Grange development at Shepley comprises 31 houses, all of which have been sold, while there are only six homes left out of 30 at Vivly’s popular Whistle Bell Court site at Skelmanthorpe.
“We are absolutely delighted with the success of Whistle Bell Court, where our sales office is open from 10am to 4pm on Tuesdays, Wednesdays and Thursdays and Kate Carter, our friendly Customer Experience Representative, is ready to greet visitors and show them around homes that are ready to move into.”
More specifically there are two Open Days at Whistle Bell Court on April 26 and April 27 from 11am - 1pm. Please click in this link to express your interest: https://docs.google.com/forms/d/e/1FAIpQLSfDJ6RI0sRUSJwEHcYeijVHtlsTcy9powZPPd60mK7phDOpfg/viewform?pli=1
One house which is expected to attract a great deal of interest at Whistle Bell Court this month is The Cedar, which boasts magnificent views across open Green Belt countryside. This price of this four-bed home, with detached garage, open plan living, a 10-year premier guarantee, EV charging point and bi-fold to a private garden, will be announced at the Open Day on April 26.
Another house which will attract attention at the Open Days is The Maple, a beautiful four-bed home, which is ready to move into and includes Karndean flooring, upgraded Vivly range carpets, a premium SieMatic kitchen and a £1000 John Lewis gift voucher. Designed to let in lots of light and fresh country air, The Maple has over 1,500 square feet of living area and a spacious south facing garden/terrace for relaxing outdoors. It is on the market for £590,000.
Vivly’s The Willows development at Denby Dale, which is now almost complete, has proved equally popular with 19 houses out of 34 already sold. Houses, which have high sustainable credentials, range from one-bed to four-bed, with prices from £152,000 to £580,000.
Paul Brown commented: “We are so proud of The Willows. Situated in the breathtaking Yorkshire countryside, yet still within reach of excellent local amenities, our development provides the best of both worlds with a vibrant yet peaceful lifestyle. It is also close to Huddersfield, recently named as the UK’s premier property hotspot.
“Denby Dale first school is just a mile away, while Denby Dale Station, which is on the Penistone line that runs from Huddersfield to Sheffield, is even closer. Access to Yorkshire’s superb motorway network is excellent, with the M1 a 15-minute drive away. Commuting to major regional cities such as Leeds, Manchester, Sheffield and Barnsley, takes less than an hour.”
- Vivly Living was shortlisted in Housing Project of the Year category for its successful Knowle Grange development in Shepley and the company won of a raft of regional and national awards last year.