A regional housebuilder’s new finance director said the housing market will see a ‘significant shift’ in activity should a ‘huge opportunity’ to improve affordability be unlocked.
Alex Mayhew has been promoted to Group Finance Director at Allison Homes after joining the firm in 2022, having previously worked in finance for fashion retailer Joules for eight years.
He has set his goals on achieving long-term sustainable growth for the business, alongside navigating issues like affordability pressures and sustainability regulations.
Unlocking those affordability pressures especially, he said, could mark the beginning of major growth.
He said: “Affordability pressures, particularly for first-time buyers, are currently slowing the market.
“However, there is a huge opportunity waiting to be unlocked, and once affordability improves, I believe we will see a significant shift in market activity.”
Alex’s promotion comes following a £165million financing deal with HSBC, NatWest, and Homes England, with ambitious growth plans to deliver 2,000 new homes annually.
Among his new responsibilities is achieving returns on site margins and internal rate of return (IRR).
He said: “It’s my responsibility to ensure we achieve strong returns on every investment we make.
“Alongside site margins, IRR is a core measure for us. Every decision is considered through the lens of its potential impact on gross margin and overall company return.
“As the business continues to grow, the finance function plays a vital role in shaping land acquisition strategies and long-term development pipelines.
“Capital discipline is fundamental, and the entire team works closely together to ensure the business is financially positioned to support growth.
“Our relationships with our lenders are critical. Following the refinance, one of my key priorities is ensuring the business delivers on its commitments and achieves sustainable, controlled growth that aligns with our long-term financial forecasts.
“Market conditions will inevitably influence how we grow, but it’s essential that we are well positioned to capitalise on improvements when they come.”
He added: “On a personal level, this promotion means a great deal – it’s something I have always worked towards.
“Achieving it makes the years of hard work, particularly the time spent gaining my CIMA qualification, feel incredibly worthwhile.”
John Anderson, Group CEO of Allison Homes, said: “Alex has been instrumental in strengthening our financial discipline and supporting the business through a period of significant investment and growth.
“His commercial insight, calm leadership, and understanding of our financial strategy make him an excellent fit for the role of Group Finance Director.
“I’m delighted to see Alex take this next step as we continue to deliver our long-term growth ambitions.”
