Modular homes and extensions could boost the UK’s housing stock

 

Some major developers are investing in modular home factories as more modern methods of construction begin to gain favour across the country. Faster, cheaper and eco-friendly, could we be about to see prefab homes making a comeback?

For most people in the UK, the idea of a prefabricated house is associated with the tens of thousands of quick-build properties that were constructed after the Second World War in the 1940s to make up the housing shortfall. Many were constructed from precast concrete, and they were designed to last a maximum of 10 years, although some are still being used today.

With advancements in technology, coupled with the pressing need to get more homes built across the country to keep up with demand, prefabricated or modular homes seem to be back in vogue as a feasible option for developers, housing associations and manufacturers, including Berkeley Homes and Swan Housing Association.

Faster delivery than bricks and mortar

One modular home development company, Ilke, is hoping to use the speedy creation of modular properties to ease the country’s housing shortage, and it is about to open its first factory in Harrogate with plans to deliver 2,000 homes a year. The new factory is expected to create 150 jobs initially, rising to 800 over the next three years.

[crb_image link=”https://www.buyassociation.co.uk/advice/property-investment-starter-course/” image=”https://cdn2.hubspot.net/hubfs/1717782/Asset_Store/WebCTA/cta.jpg” align=”left”]
Welcoming the project, Business Secretary Greg Clark said: “Ilke Homes’ new factory in Harrogate will use innovative off-site manufacturing to build modular affordable homes, creating high quality jobs and contributing to the Industrial Strategy’s bold plan of action when it comes to infrastructure and housing. This includes an investment of £866m through the Housing Infrastructure Fund into local projects that will get 200,000 houses off the ground.”

Ilke Homes is also considering the government’s latest announcement for making it easier for properties to be built upwards by up to two storeys to create more living space.

Building capacity

In Manchester, property development company Urban Splash has already sold all of its modular family homes in its New Islington project, which consists of different sized homes which started at a launch price of £200,000. The company states the homes are occupied by a range of people from first-time buyers to young professionals, as well as older inhabitants, and the project’s success means the company is looking into similar developments in the future.

Urban Splash’s chief executive Tom Bloxham said: “We’ve shown there’s a demand for it, we’ve shown the quality is really good, and now it’s building the capacity.”

Some of the benefits touted for modular homes, aside from the speed of the build and cost savings in construction, include smaller energy bills for occupants, reduced need for skilled labour, and a smaller carbon footprint meaning benefits for the environment.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

Modular homes and extensions could boost the UK’s housing stock

Modular homes and extensions could boost the UK’s housing stock

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.