And this is, in part, due to a lift in sales over the autumn months that has seen monthly sales figures for August through to November on average 27% higher than the same period in 2008, and put the company firmly on track for this year’s targeted turnover.
Sales and Marketing director Jonathan Cranley believes this trend-bucking performance is down to a combination of a quality product and a bold long-term business plan, which the company has stuck to in spite of market turmoil:
"There’s no doubt that times have been tough in the property market – we’ve felt the pinch along with everyone else in the new homes industry, but recent signs show that things are on the up and the bottom line results are backing this up. Next year, our average house price will be over £1 million – in 2007, it stood between £500k and £600k – so it’s doubled in three years, and we’ve never had a problem in terms of demand. We stuck to our guns and continued to focus on the upper end of the market, and it’s paid off.
"Our developments have continued to generate high levels of interest throughout the downturn – the main difficultly has been with chains, so the signs we’re seeing are hopefully a reflection that things are starting to improve across the board."
When it comes to Millgate’s ‘onwards and upwards’ strategy, the proof is in the pudding – at its flagship Kenley Grange development in Kenley, Surrey all three modern country mansions priced between £1.6million and £3.5million have already sold, with serious interest in Kenley House, a 6 bedroom Regency mansion on the market at £4.25 million.
Millgate Homes is presently building in premium locations in Berkshire, Hampshire,SurreyandKent. For further details visit www.millgatehomes.co.uk or call 0118 934 3344.
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