The Christmas Effect And Shared Ownership Expertise

Head of West Midlands New Homes Connells, Katy Harwood, tells us about the ‘Christmas effect’ on potential buyers... 

Katy, what’s been your career journey into New Homes at Connells?

I joined the company in September 2019, so have been here for just over two years in my current job role. My journey in the property industry began in Spain where I sold holiday homes. There, I worked all hours, seven days a week, trying to sell as much as possible! I then moved back to the UK and by then, had caught the property bug, and joined another large corporate estate agency.

What was it that particularly drew you to the New Homes area of estate agency?

The moment I started looking around my first show home I knew New Homes was the division for me, fifteen years later I still get the same buzz as I did then. I left my first corporate company to set up the new build division within an independent company. It was a big jump and I was nervous to leave my comfort zone however it was a career changing moment for me. Being able to put my ideas into action was liberating and I gained so much confidence in my ability. Now, I love working with my own New Homes team. Each member of the team brings something different to the table which helps us go from strength to strength. Being able to make a difference to a branch that hasn’t had new homes before is very rewarding.

Connells works with over 150 different developers all over the country, why do you think they choose to work with you?

We aim to work with our developers as part of their team. Not only do we offer them sales and marketing solutions, but also offer guidance on pre-land acquisition. We can provide due diligence to give them reassurance on their purchase, including working with their funders, construction team and designers. Our working hours are not confined to usual estate agency branch hours and we pride ourselves on going the extra mile. 

Connells refers to your team as New Homes specialists, what is it that you’re able to offer new home buyers that’s perhaps different to other agents?

Our teams’ knowledge of new homes is second to none. The customer journey is at the heart of every project we undertake. We are lucky enough to have experts in all areas in our company, from Affordable Housing to Land and Planning, to provide an all-encompassing service to our developers and that’s what makes this group one of the best.

How is the local new homes property market performing in the West Midlands at the moment?

Currently, the market is still strong and we expect it to continue this way. The changes to Help to Buy still enable many buyers to buy their dream home in our area. We have been fortunate enough to have an impact on future projects and we will continue to drive projects based on our market intelligence.

What schemes are you promoting in the West Midlands at the moment? 

We are currently marketing 68 sites. Next year will see us expand even more to launch a further 1600 units.

Many of your new homes offer Shared Ownership opportunities, can you explain a bit more about that? 

Shared Ownership is a fantastic scheme to help people get on the property ladder and helps with the current issue of affordability. Shared Ownership properties can be bought from a 25% share with rent paid on the remaining amount. There are mortgage lenders who will lend on Shared Ownership with as little as a 5% deposit which could only be a few thousand pounds, often less than a first car. My team and I are passionate about educating potential buyers on how this works, so we have started to hold events across our area to demonstrate to potential purchasers how they can utilise the scheme. Often first-time buyers can feel intimidated when asking questions and we aim to make the scheme approachable, and to focus on the customer journey.

Are there any downsides or potential pitfalls to be aware of with Shared Ownership?

It is always important to check any specific criteria for each development. Some criteria will require you to have a local connection or will only allow a minimum purchase of 40-50%. Luckily, we offer the full package in our Shared Ownership team including mortgage and legal guidance to guide you through each part of the process.

What exciting innovations are you noticing coming up on new schemes being built?

Although the future homes standard hasn’t yet been implemented, house builders are already taking significant steps to deliver sustainable dwellings with reduced environmental impact which I feel is a really important issue at the moment. We are excited to be involved in the schemes that are coming forward. We are also seeing a considerable amount of interest in modular builds.

And finally, what’s the most notable change you’ve seen in what people are looking for in a home since the start of the pandemic?

We have seen a huge increase in what we call the ‘Christmas effect’. January always sees people wanting to move due to being indoors with their families for an extended amount of time. The pandemic has been a far more intense version of this, so buyers are looking for more family friendly layouts. Studies/offices have made a huge comeback that no longer remind people of the 80’s! First-time buyers have definitely felt the need to get their own space and have been able to save their deposit due to more disposable income which has been saved.