No post-Brexit building slow down in area

Barnfield Homes, the residential home building portion of the construction business, is experiencing a spike in demand, despite post-Brexit uncertainty.

Friday, 22nd July 2016, 10:00 pm

Many areas are anticipating a slow-down in investment and development and there have been fears this could exacerbate the short supply of affordable property and increase difficulties faced by people trying to get on the housing ladder.

However, Kelly Hankinson, residential property manager at Barnfield Homes, said: “We’ve seen no slow-down in East Lancashire.

“In fact year on year, this has been better for sales than the previous peak in the market.

“The reality is that in East Lancashire the majority of people aren’t investing in property, they want to buy homes. With the popularity of the Help to Buy scheme, we’ve had to respond to demand by bringing forward new phases of development at The Hallows in Burnley, and at Walton Place in Nelson.

“We’re also bringing forward new developments such as Carry Lane in Colne, Barden Marina in Burnley, and Clitheroe Road in Brierfield.”

Barnfield’s partner Petty Estate Agents, agrees.

Simon Morgan, residential property director at Petty, added: “Factors such as Brexit don’t seem to be having a detrimental effect. There is still plenty of demand and our local property market is pretty robust.

“In metropolitan areas, there has been huge price inflation over the years, but we’ve seen slower steadier growth, so we seem to be immune to some of the volatility.”