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Demand for New Build Homes Continues to Rise as Demand Outstrips Supply in South Wales

A - Home Page B - Original Content Cardiff Monmouthshire South Wales
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Last year marked the busiest 12 months in the housing market since 2007, and 2022 looks set to be no different.

Two months in to the new year and Rightmove* is already seeing a 12% increase in buyer demand across South Wales, compared with January and February last year.  The property giant also says that asking prices are up  in the region by 11% to £230,908.

As one of the UK’s leading housebuilders, Redrow is also seeing unprecedented demand for new homes with all nine developments in South Wales currently sold out up until June 2022.

Redrow has just 17 properties available for reservation with completion dates expected in summer 2022. These include detached four-bedroom family homes at Mill Meadows in Sudbrook near Caldicot with a spacious Shaftesbury priced at £418,995 and Cambridge house type offered at £422,995.

The popular Plas Ty Draw development has a superb choice of family homes, just five miles from Cardiff city centre. Four bedroom townhouses offer flexible living at £395,995 and are expected to be completed in the late summer of 2022. There are also two-bedroom apartments available with prices starting from £245,995.

Beverley Wookey, sales director for Redrow in South Wales said:

“Here in South Wales, we continue to experience strong demand for our beautifully crafted new homes across all of our developments. This is mirrored by Rightmove’s latest statistics showing that 2022 is set to be no different to last year.

“We’ve already advance sold all properties that are due for completion by June of this year and have just 17 new homes available to reserve ahead of them being ready for occupation later this summer. Anybody looking to make a move this year and create a better way to live should book a visit to one of our show homes and take a look at what’s on offer – now is definitely the time to reserve.”

*Rightmove data for Jan/Feb 2022 versus Jan/Feb 2021

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Redrow is a leading UK premium housebuilder, proudly headquartered in Ewloe, Flintshire.

Established in 1974, it has earned a unique reputation for quality, building beautiful homes and communities, creating, in its words, a better way to live. It delivers for both investors and the wider community by centring all its activities around its three values of creating thriving communities by building responsibly and valuing people, all while engaging with colleagues and stakeholders.

Redrow is listed on the London Stock Exchange and is a constituent of the FTSE 250 index. For the year to 27th June 2021, Redrow built more than 5,500 premium new homes across England and Wales and the Group reported revenue of £1.9bn.

Redrow directly employs well over 300 people across Wales, 15% of whom are trainees, graduates or apprentices, at its headquarters, regional offices and developments.

It takes responsibility seriously: last year, Redrow achieved the Global Good Company of the Year Silver award in recognition of its social impact and launched its ‘Nature for People’ biodiversity strategy, established as part of a long-standing partnership with the Wildlife Trusts. In June 2021, Redrow was included in the FT’s inaugural listing of Europe’s Climate Leaders for achieving significant reductions in its greenhouse gas emissions between 2014 and 2019.

Over the past year, Redrow has consistently been rated as ‘excellent’ on Trustpilot and once again achieved the Five Star Customer Satisfaction award from the Home Builders’ Federation (HBF). The company is also one of just eight UK construction companies to be named a Diversity Leader in the Financial Times’ inaugural list of European leaders for workplace diversity and inclusion.

Visit www.redrow.co.uk to find out more.
 

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