With a constant demand for new housing, and the uncertain risk the UK property market holds, we see new property developments taking shape daily. Offering up everything from single bedroom apartments to houses with five bedrooms or more.
But, if you’re a developer, building these properties is only the start – what about selling them?
With home ownership an aspiration for many, and with the rental market booming, there’s clearly a constant demand for consumers in the UK property market.
A good way of ensuring you hit the right market is by using something unique like online auctions, where companies such as Allsop take new build properties and get them in front of the right people, at the right time.
The Need For New Build Properties
In October 2017, London Mayor Sadiq Khan announced that in the England capital alone there needed to be 66,000 new homes built a year. This was up from 29,000 in the previous year, which was a bold request for a country which has been known to have unexpected market changes over the years.
This was to combat the issue of affordable housing within London, with many developers accused of focusing on ‘luxury accommodation’. In the 19 years between 1997 and 2016, London’s population increased by 1.7million, but housing only increased by 370,000 for the masses.
Of course, this is an issue that can be seen happening across the country, not just in London. And with Khan saying 65% of new build properties have to be affordable, it’s only natural that the remainder of the UK will follow suit.
As this begins to happen, it’s the perfect time for developers to start building more affordable housing. In the meantime, reaching those looking for affordable housing is becoming much easier, thanks to the advent of websites offering online housing auctions.
Buying and Selling New Build Property
The traditional way of selling homes through an estate agent may be tried and tested, but there are newer ways that allow far greater freedom when selling property.
Companies like Allsop, who help you auction your property, offer this unique approach to buying and selling new build homes through online auctions. It’s an incredibly easy process when you offer your home to be sold at an auction house. Many UK business investors have looked at property development through auction houses regionally and it can be a very good way to earn a living. Buying the property at its lowest auction value, re-developing the property to be sold several years down the line.
Transparent, efficient and cost effective, this model of selling is designed to help provide the best results for both the buyer and seller. Making it a win, win for both sides.
Using the power of the Internet, the online auctions provide a level playing field to a global audience. Meaning property developers could sell to a person overseas looking to invest in a property market, they may have found difficult to access previously.
The live auction market is also available for all involved to see, with the bidding process evolving in front of their eyes. Because of this, not only does it help speed up the buying and selling process of property, but also ensures there is zero risk of gazumping or double selling. With the development of mobile as a platform for bidders to use, house buyers and sellers are now able to get instant quotes and access to helpful information through several taps of the finger.
With the contracts binding with the fall of the online hammer, this process of selling is becoming a natural progression of the buying and selling market, which we’ve all become accustomed. However, there’s the added advantage of it being online, meaning it can be done on the move by anyone.
If you are someone looking to sell a newly built property, or you’re looking to buy that first home or expand your property portfolio, maybe it’s time to try online auctions from the likes of Allsop. Before you know it, you’ll be finding new build properties with ease.