As mortgage rates rise and a mounting cost of living crisis continues, the UK property market faces uncertainty as Nationwide and Halifax forecasted a dip in average house prices.
The Bank of England's persistent interest rate hikes, now at 5.25%, heighten concerns about diminishing buyer demand and a surge in mortgage defaults, impacting the new build market. The diminishing market value poses challenges in attracting potential buyers and a higher risk of profit loss.
An effective way to minimise the impact of these challenges and ensure a soft landing for your development, is to invest in a bespoke staircase that adds value to properties, offering a means to enhance appeal and weather the challenges posed by declining house prices. Continue reading to find out how.
The Role of Staircases in Sustaining Profitability
As the architectural centrepiece of a home, a thoughtfully designed and crafted staircase can enhance the property by leaving a lasting impression on potential buyers and adding intrinsic value contributing to bolstering the overall profitability of a development.
Bespoke Staircases that Fits First Time to Avoid On-Cost from Reworking
The efficiency and cost-effectiveness of property development hinge on precision and meticulous planning. Staircases that fit seamlessly into the initial design eliminate the need for costly reworkings or on-site alterations. This saves valuable time and prevents unnecessary expenses, ensuring that each development project stays within budget requirements.
Timely Delivery to Prevent Additional Costs from Storage or Project Delays
Timely delivery of staircases, aligned with the project timeline, prevents additional costs associated with storage or delays. Early deliveries may result in unnecessary storage expenses, while late deliveries can potentially impede the project timeline, incurring unnecessary costs from project delays. A well-coordinated supply chain from a dependable staircase supplier ensures that staircases arrive right when needed, optimising project efficiency and mitigating the risk of profit leakage due to logistical challenges.
Boost Property Value and Appeal With High-Quality Staircases
High-quality staircases, built from durable materials and featuring bespoke designs tailored to the development's style improve the overall property value and appeal by enhancing the perceived quality of the entire property. This can attract potential buyers whilst positioning the development in a higher market bracket, securing the value of your development even in a challenging market.
Additional Value From Social Responsibility and Sustainability
In a time when sustainability is one of the main priorities of consumers, the conscientious choice of materials becomes a crucial aspect of property development. Staircases made from sustainably sourced materials not only align with eco-friendly practices but also respond to the rising societal call for socially responsible construction. For instance, all staircases by Multi-Turn are manufactured using Zero Carbon-certified energy and responsibly sourced local timber, appealing to a market increasingly valuing sustainability. This ethical stance enhances the property's marketability but also positions you as a socially responsible contributor to a positive environmental change.
Rich data from surveys and studies reinforces the importance of sustainability as a decisive factor in consumer purchasing choices. According to a survey from McKinsey & Co., 66% of all respondents and 75% of millennial respondents say that they consider sustainability when they make a purchase. Customers now align themselves with brands that are compatible with their values and priorities. A Nielsen study discovered that 66% of global consumers are willing to pay more for products from brands committed to positive social and environmental impact.
Increase Your Project’s Value With The Right Staircase
A key to resilience against falling house prices lies in a strategic investment in precisely fitted, timely delivered and high-quality staircases. They can be catalysts for property value enhancement and ensure sustained profitability even in challenging markets.
The Staircase Success service from Multi-Turn is backed by a fit-first-time commitment and ensures lasting success in your development. With bespoke staircase designs tailored to unique project requirements and timelines, paired with reliable on-time, in-full deliveries, you can maximise the value each staircase adds to your housebuild project. This approach eliminates uncertainties tied to unexpected delays or rework, providing a solid foundation for the long-term success of your projects.
Our Staircase Success service will guide you through every step of your staircase project, from design to manufacturing. Backed by the expertise of our team of staircase specialists, we offer tailored recommendations and bespoke staircase solutions based on your project requirements. The combination of expertise, commitment to customer satisfaction, technology and sustainable practices have made Multi-Turn the trusted supplier of choice for procurement managers seeking a reliable partner.
Discover how Multi-Turn can enhance the success of your projects with fit-first-time staircases. You are warmly invited to experience the craftsmanship firsthand, book a visit to our showroom in Winchester now.