Brexit bluster: Telford Homes boss is so chill about housing he says he’d buy a plot on the day before the EU referendum
The chief executive of a top London property developer is so confident about the resilience of the housing market that he'd buy a plot the day before the EU referendum.
Speaking to City A.M. on a day of strong results for the company, Jon Di-Stefano, chief executive of Telford Homes, said: "Even if we vote out people aren't going to disappear from London. We're still going to need more homes."
"We would go out and buy a site on the 22 June, because, regardless of the answer [from the EU referendum], we are confident we need those homes in London. We have to build."
Di-Stefano said that Telford Homes' strategy is to focus on the non-prime areas of London and to provide homes at the city's average house price rather than building luxury properties.
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On luxury homes, he said: "It has gone too far. The reason supply is going down in prime areas is because people are nervous that they won't be able to sell."
"We're focussing on places like Tower Hamlets, Newham, Hackney, Greenwich and Lewisham. We are quite relaxed about developing in any of those areas and there is no one area we are looking at, because there is plenty of opportunity."
"As long as our homes are affordable and they're near good transport links – and most places are in London – then the demand is out there."