It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Dan Stack, director at Chevin Homes.
The house building industry enjoyed a strong 2021 and this trend looks set to continue well into 2022 with huge demand from customers which is testament to the resilience of the East Midlands property market.
As a business we are looking forward to a busy year ahead, with the high demand for homes looking set to continue in the short to mid-term. There appears to be a strong desire for buyers to purchase more individual and bespoke homes in smaller niche sites, which has been something we have been able to cater for across our various developments.
The effects of COVID, Brexit, material and labour price increases add further challenges to the already complex nature of development, but the effect of this is currently being offset by current demands, however it remains to be seen if this will continue later in the year and into 2023 once the effects of COVID have faded and life hopefully returns to something more like normal.
Later in 2022 new building regulations will come into force to promote better energy efficiency for new homes and this will be another challenge to the industry while it adopts the new supply chains required to help achieve these targets. This will again put pressure onto the home building process while the industry familiarises itself with new ways of working, so this will be a challenge to balance these effects on costs, time and customer expectations.
So while this year will undoubtedly have challenges it does look set to be coupled with a strong demand for new homes.
