Who are the most popular New Home Builders?
Updated: Jul 15
COVID-19 has had a catastrophic impact on most parts of the UK economy, yet discussions we have had with stakeholders in the housing construction sector suggest this market is very much 'on the up'.
For now, property prices have remained broadly stable and new reservations have been high. This demonstrates the significant pent up demand in the UK for home ownership, despite prices remaining out of reach for many first time buyers. The recent announcement of a stamp duty cut until 31st March 2021 should only strengthen demand further. As stamp duty is tiered, this will particularly represent a huge incentive to buyers of properties up to £500,000 in value.
Allied to demand for new homes, the announcement of £5,000 per household to kick start the decarbonisation of existing homes is also very welcome. This should reap a double benefit: securing work and jobs for the SME’s that are the lifeblood of the sector, while also providing funding to create the conditions needed to help lower the price of energy efficiency technologies and products in the mass market.
Eureka! Research has worked with brands in the construction sector for years and has seen at first hand the severe impact of Coronavirus on tradespeople. Our ongoing self-funded research has revealed the extent of the disruption on the plumbing, heating and bathroom sector in particular so it is positive to see some support for tradespeople being announced.
While it may not be clear at this point about the exact make-up of the home grants, there is some anticipation that this will include new boilers and heating systems, with the additional secondary benefit that homeowners undertaking government supported improvements may also go a step further and undertake other refurbishments in their homes.
So with the market buoyed by these announcements, what impact is this going to have on consumer sentiment towards new home builder brands? Which developers are people noticing the most and what do potential buyers think of them? Will consumers have a different relationship with their homes in a post COVID world?
We have been commissioned by one of the largest housing developers in the UK, Taylor Wimpey, to track attitudes to the new build market amongst those who have an active interest in moving home.
Some of the most recognisable new home builders to consumers currently include:
Our challenge is to measure the extent to which brand equity amongst these sorts of new home builder brands evolves over the Summer, in line with a major media campaign being launched. In a sector that is normally more obsessed with generating specific enquiries or local interest, this more holistic approach is a very interesting departure.
This housing and construction research project is being undertaken in conjunction with our long term partners Rock Kitchen Harris.
See here for more information about our work in the buildings and construction sector.