With a large cash injection planned for Holbeach set to create new food enterprise zones and a large residential housing estate, the property market is booming in the area.
I am the manager of Pygott & Crone’s Spalding and Holbeach branches, as well as Lincolnshire’s NAEA (National Association of Estate Agents) representative. In my first blog post for the Pygott & Crone website I’d like to discuss how the industry is looking, following Brexit which was forecast to disrupt the industry and ahead of exciting new developments in Holbeach.
The market locally remains strong, as it always has and, with interest rates remaining attractive, we’re seeing a steady flow of buyers come through the door – ranging from first time to more complex buyers.
After Brexit, there was nationwide worry that the construction and property industries would slow down – but I’m relieved to say that this hasn’t been the case in Holbeach.
It may have affected people without them knowing, perhaps making vendors more tentative, worried about the state of the market, but there really hasn’t been a knock on effect here at all. I’m sure other agents will agree, that we have seen a very robust market since Brexit and I have no doubts that this will continue.
Holbeach’s property industry is only set to improve, with these new developments set to transform the town, encouraging more buyers and housebuilders into the area
There’s talk now of holding another Scottish referendum which may cast doubt over the property sector – as with any big national change – but I’m feeling very positive that the industry will hold up.
Of course, the issue many areas are facing is the general lack of stock – Lincolnshire has been promised 200,000 new homes by 2020 and these new properties can’t come soon enough.
Demand is outweighing supply dramatically, we’re in need of good quality housing as there simply aren’t enough properties coming to market to meet the appetite of those wanting to buy in the area. This is obviously a positive sign for Holbeach – showing that people are keen to move here, supporting our local economy – but we need to make it easier, and more attractive, for housebuilders to come here.
One way this is being tackled is the announcement of the new food enterprise zones, with plans for new housing estates coming off the back of this. This will hopefully go a long way in alleviating the problem we’re facing in terms of a lack of stock. Holbeach’s property industry is only set to improve, with these new developments set to transform the town, encouraging more buyers and housebuilders into the area.
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